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Mortgage News for Tuesday - March 29, 2005

More Mortgage News
• Eron Mortgage president sentenced to 6 years in prison
• Mortgage foreclosures triple over last 5 years
• Mortgage Refinancing: Report highlights dangers of real estate appraisal fraud
• U.S. Dollar scores gain vs yen; euro rises
• Worrying about Real Estate
• Real estate targets golden years
• Say goodbye to record-low interest rates
• UK mortgage lending picking up
• Home Builders See Strong Quarterly Growth Thanks To Attractive Mortgage Rates
• Bounce back fast after bankruptcy, apply for a mortgage loan
Mortgage News
Say goodbye to record-low interest rates - 2005-03-29
Seven interest rate hikes are now history, with the fed funds rate currently up to 2.75 percent from the 40-year lows of 1%. So what are all these quarter-point interest rate moves adding up to? And more importantly, what significance might the rate moves made since last summer have in the coming months and years?

The largest impact is felt by households with adjustable-rate mortgages. A one-year ARM for $200,000 that adjusts by 2 percentage points sees the monthly payment increase by approximately $230.
Read the full story at MSN Money
 
UK mortgage lending picking up - 2005-03-29
British mortgage lending climbed in February, according to figures seen as adding to evidence that the decline in the country's property market is bottoming out.

Figures from the Major British Banking Groups revealed gross mortgage lending was £11.9 billion last month, a monthly increase of 3% but still 12% lower than February 2004.
Read the full story at RTÉ News
 






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