Conventional Loans Unaffected by Troubles in the Subprime Segment
Sunday, September 30 2007 @ 09:57 AM Eastern Daylight Time Contributed by: Admin
A freep.com article points out mortgage money is still plentiful. Most mortgage products are unaffecteted by the problems in the subprime market. Take for example the 30 year fixed rate loans is in the low 6% range for people with pretty good credit. Larger loans (over $400,000) interest rates have even fallen this month. The article further explains the mortgage market has adverted a crisis since the products and underwriting that allowed people to buy houses they couldn't afford have disappeared. Plus underwriting standards have been overhauled and are stricter than they were a year ago.
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Conventional Loans Unaffected by Troubles in the Subprime Segment
Authored by: finblogger on Sunday, November 25 2007 @ 04:46 AM Eastern Standard Time
While it is is true that this correction was long overdue, and most people will no longer be able to fund their spending habits using mortgages, the prime area of concern now is the blowback for the financial markets and big banks. Every quarter with more write offs drags the markets down even further, and analysts can no longer be certain that more rate cuts will be able to stem the tide. 2008 is expected to be a very rough year.
T Franklin
Money-Rx
http://www.money-rx.com/