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Recent News and Events: Mortgage Rate Refinance Refinancing
Since the government bought out Freddie Mac and Fannie Mae, mortgage rates have gone down. And with lower rates and a poor economy, more people are refinancing their homes.
(RTTNews) - Industry data released on Wednesday showed that mortgage application volume jumped nearly 10 percent last week, as low 30-year mortgage rates sent investors rushing to refinance.
The takeover of Fannie Mae and Freddie Mac made it easier to get a fixed-rate mortgage.
By ALAN ZIBEL WASHINGTON -- Mortgage rates fell sharply Monday as investors reacted to the government's takeover of Fannie Mae and Freddie Mac. And that's exactly what homeowners like Jim Chereskin had been waiting for. Chereskin, of Naperville, Ill., took out an adjustable-rate loan in 2003 and has been worrying about how much his mortgage payments will rise once the loan resets to market rates ...