Federal student loan rates are fixed, so most borrowers won't be affected by a rate hike. But if you are borrowing money for college, the interest rate on federal student loans already rose to 4.99% up from 3.73% last year and 2.75% in 2020-2021.
Interest rate risings affect all types of commodities.Even though auto loans are fixed, car prices are rising along with interest rates on new loans.Paying an APR of 5% instead of 4% would cost consumers $1324 more in interest over the course ofa $40k /72 mo loan.
While the inventory of foreclosed homes is quickly shrinking, there are still plenty of opportunities to invest in real estate. “For the last few years, investors have been able to find real estate bargains they could turn into rental properties. That period is pretty much over - the inventory of foreclosed homes has been picked … Continue reading Here are the top 10 rental markets for real estate investors: Texas dominates
Aged foreclosure inventory, which is comprised of residential mortgage loans in active foreclosure that are at least two years delinquent, has seen significant improvement in the last seven months, according to Black Knight Financial Services' May 2015 Mortgage Monitor released Monday. Black Knight examined approximately 468,000 active foreclosures at least two years delinquent and discovered … Continue reading Aged Foreclosure Population Sees Significant Improvement
Freddie Mac is now offering distressed homeowners a complete guide to foreclosure and how to avoid it, from assessing your situation to what to do when your home has been foreclosed on, as part of a new website launched this week as a one-stop resource for homeowners. The "MyHome by Freddie Mac" site offers homeowners … Continue reading Freddie Mac Offers Distressed Homeowners a Complete Guide to Foreclosures and Alternatives
Philadelphia Fed chart shows employment status in 50 states By: Brena Swanson/Housingwire.com The job situation improved in almost every state over the last three months, according to the latest state coincident indexes report from the Federal Reserve Bank of Philadelphia. The coincident indexes combine four state-level indicators to summarize current economic conditions in a single … Continue reading Job situation improves in nearly every state
Homebuyers are caught in a storm of low inventory, high demand and tight credit availability. In these market conditions, even simple tactics or connections a potential homebuyer can have could make the difference between owning a home or not. Ray Brousseau, executive vice president of Carrington Mortgage Services’ mortgage lending division, outlined 10 tips to help … Continue reading 10 tips for first-time homebuyers: How to navigate the real estate market
While completed foreclosures on residential homes totaled 40,000 for April and have been steadily falling monthly for the last four years, they are still nearly double their pre-recession average per month, according to CoreLogic's April 2015 National Foreclosure Report released Tuesday. Completed foreclosures, which are a measure of homes actually lost to foreclosure, declined by … Continue reading Completed Foreclosures Decline But Remain At Double Pre-Recession Levels
U.S. Representative Maxine Waters (D-California) has written a letter to Department of Housing and Urban Development (HUD) Secretary Julián Castro asking for relief and more transparency for seniors participating in HUD's Home Equity Conversion Program (HECM). At the center of the issue is the fate of surviving non-borrowing spouses upon the death of the last … Continue reading Representative Waters Asks HUD For More Transparency For Non-Borrowing Spouses on HECMs
While 36 states reported a level of foreclosure inventory below the national average of 1.4 percent in January, the rate remained high in some states – namely in judicial states where the foreclosure process has to pass through the courts, according to CoreLogic's January 2015 National Foreclosure Report released on Tuesday. The foreclosure rate in judicial states … Continue reading Report: Foreclosure Rate in Judicial States More Than Triple That of Non-Judicial States