The lender is freer to offer a lower int…. (building modular manufactured houses)
The lender is freer to offer a lower interest rate on an adjustable rate mortgage because they do not have to guarantee the interest rate for the life of the loan, only until the first interest rate review.
Choosing the best mortgage rate for yourself, starts with choosing what type of mortgage rate (fixed or adjustable) is more suited to you.
Tough times for home builders
Census Bureau reports show that 110,400 houses were started in October. Compare that to the 130,600 houses that were started in October 2006, for a 15 percent drop year-over-year.
Yields bounce back
Bond yields bounced back a bit yesterday. Freddie Mac’s 30-day required net yield rose 9 basis points, after falling 15 basis points on Monday. The 10-year Treasury rose 12 basis points, after falling 18 basis points on Monday.
Full economic calendar
Lots of stuff on the economic calendar this week.
Downgrades and foreclosures
Goldman Sachs has downgraded Citigroup because of potential write-downs in collateralized debt obligations.
Downgrades and foreclosures
Goldman Sachs has downgraded Citigroup because of potential write-downs in collateralized debt obligations.
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