A heavy price for ‘cheap’ mortgages

A heavy price for ‘cheap’ mortgages
Washington’s efforts to keep the housing market afloat are brew ing up another mortgage melt down — except that this time, Uncle Sam will start off holding the bag. Mortgage rates hit new lows last month as investors gobbled up residential, mortgage-backed securities — MBSs, the very financial instruments…
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Spill spreads anxiety among Vietnamese fishermen
On a steamy summer morning, Minh Chu would normally be far out in the Gulf, hauling in huge loads of shrimp in the blistering sun. Instead, he’s standing in an alley, the air sticky as cotton candy, rain falling, clutching a paper ticket — a small measure of how a massive oil spill has shaken up his life.
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Mortgage rates fall
NEW YORK – Mortgage rates fell for the second straight week to the lowest point in five decades. But many people either don’t qualify for new mortgages or have already taken advantage of the low rates this year.As a result, the housing market and the br
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Refi Redux: Record low rates have homeowners thinking again about financing
Just a few years ago, homeowners were rushing to refinance their mortgages at a time when lending standards were easier and home values were higher. Today, there is no such rush as homeowners looking to take advantage of today’s record low interest rates are finding it harder to qualify.
Read more on Contra Costa Times