Mortgage lenders getting more creative as business wanes - 2004-05-24
With the Federal Reserve widely expected to boost interest rates as soon as next month, mortgage lenders are hoping to keep business profitable by attracting consumers with new terms.
After an incredible U.S. housing boom fueled by historically low interest rates, a moment of reckoning is looming for the home lending industry. Mortgage refinancing applications are plummeting as Treasury yields are heading higher.
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