As more people attempt to get refinancing for their existing home loan, many are finding that the costs are simply too high. Banks have tightened their restrictions to the point where those with even slightly imperfect credit are having difficult getting a home loan or refinancing an existing loan.“Home loans and virtually all credit products […]
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Federal Home Loan Banks Adds Liquidity
Posted on April 2nd, 2008 by Bright Light
In an effort to resuscitate the dying US housing market, the Federal Home Loan Bank announced today that they are adding liquidity to the tune of $100 billion over the next two years. The bank plans to purchase mortgage bonds and securities similar to what lenders Freddie Mac and Fannie Mae are buying.
“The targeted decision […]
Efforts to Help Home Loans May Weaken Dollar
Posted on April 2nd, 2008 by Bright Light
The already anemic American dollar may take another hit as the Fed scrambles to lower home loan interest rates. Indiana in particular is worried that the cuts will mean higher fuel prices and will hit businesses in the area hard. “There’s sort of a two-edge sword when it comes to cutting interest rates,’’ said Patrick […]
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