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Mortgage News for Saturday - January 29, 2005

More Mortgage News
• Mortgage rates, loan programs help fuel real estate boomlet
• California housing still robust
• Want a Huge TV? Your Wallet Says to Wait
• http://business.bostonherald.com/financeNews/view.bg?articleid=65907
• Low mortgage rates, strong house closing
• Realtors wonder if '05 will end record run
• Bargains galore as offers flood mortgage market
• Danger of secret debt
Mortgage News
Bargains galore as offers flood mortgage market - 2005-01-29
Mortgage deals are becoming attractive following a quiet period at the end of last year. But advisers are warning borrowers to watch out for hefty fees, which may make the deals less competitive.

Borrowers who transferred out of an expensive variable rate mortgage, typically 6.75 per cent, will almost always be quids in by picking up one of the bargain fixed-rate or discounted offers flooding the market, so long as they are not tied in to their lender's loan by a hefty early redemption penalty.
Read the full story at The Observer
 
Danger of secret debt - 2005-01-29
The sad story of Richard Cullen, who committed suicide this month after building up debts of £130,000 on 22 different credit cards, shows that everyone must start communicating openly about debt.

People are having trouble with mortgages too. The number with three months' arrears has soared to 92,000, and is expected to rise to 112,800 by the end of the year.
Read the full story at The Observer
 






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