Friday Apr 3, 2009
The current weak state of the economy traces back to the collapse of the subprime mortgage market in late 2006. With banks and mortgage insurers cutting back on broker business, does this mark the end of the mortgage broker model?
Wednesday Oct 21, 2009
A reverse mortgage might sound like a great idea for raising cash during retirement, but it’s important to understand the requirements, risks and costs before signing on the dotted line.
Tuesday Oct 13, 2009
Despite signs of stabilization at the end of 2009, next year could prove treacherous for the housing and mortgage markets as a variety of woes could rekindle the falloff of the last two years, according to mortgage-industry veterans speaking at the Mortga
Friday Oct 9, 2009
President Obama wants to push for a consumer financial protection agency. Could a new regulator do more harm than good?
Friday Oct 9, 2009
Lew Sichelman answers reader questions about errors on a transferred mortgage and the first-time home buyers tax credit.
Saturday Sep 19, 2009
Kelly Greene advises on reader on why there could be reasons to wait on paying off their mortgage.
Thursday Sep 17, 2009
Rates on fixed-rate mortgages fall to a low not seen since 1991, when records started being kept on the loan.
Wednesday Sep 16, 2009
Current mortgage rates have been treading down lately because of lower U.S. Treasury prices and the belief that the Federal Reserve won't raise interest rates anytime soon even though the economy is starting to recover.
Friday Sep 11, 2009
Lew Sichelman answers reader questions about tactics used on first-time home buyers and original mortgage notes.
Friday Sep 4, 2009
Lew Sichelman answers reader questions about home ownership and death, as well as avoiding contractor scams.
| Type | Today | Week Ago |
|---|---|---|
| 15 Year Fixed | 4.62%  |
4.67% |
| 30 Year Fixed | 5.15% | 5.15% |
| 1 Year ARM | 3.48% |
3.51% |
| 5/1 Year ARM | 3.62% |
3.68% |
| Type | Today | Week Ago |
|---|---|---|
| Line of Credit | 4.89%  |
4.88% |
| 10 Year Loan | 7.47% | 7.47% |
| 15 Year Loan | 7.61% |
7.60% |
| Type | Today | Week Ago |
|---|---|---|
| Interest Checking | 0.28% | 0.28% |
| Money Market/Savings | 0.38% | 0.38% |
| 12 Month CD | 1.13%  |
1.15% |
| 60 Month IRA CD | 2.40% |
2.41% |
| Type | Today | Week Ago |
|---|---|---|
| Cash Back Cards | 12.66% |
12.68% |
| No Annual Fee Cards | 12.08% |
11.97% |
| Reward Cards | 12.75% |
12.61% |
| Small Business Cards | 11.01% |
10.94% |
| Student Cards | 13.77% |
13.49% |
| Platinum Cards | 12.26% |
12.11% |
Nor were mortgage rates! When coupled with the new propensity for "strategic defaults" and declining values it is no wonder that underwriting has tightened. Rates are good for those with very good credit. We may have been spoiled.