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Mortgage News for Wednesday - February 14, 2007

More Mortgage News
• Refinance Mortgage Activity Increases - Cash Out Share Falls
• ResMae Mortgage Gets Court OK for Loan
• Mortgage Crisis? Act Now to Avoid Foreclosure
• Cracking down on mortgage fraud
• Fed Chairman Is Optimistic About U.S. Economy
• Don't count on home for retirement
Mortgage News
Fed Chairman Is Optimistic About U.S. Economy - 2007-02-14
Federal Reserve Chairman Ben Bernanke told Congress Wednesday the U.S. economy should expamndd modestly this year and inflation should continue to weaken, reasons enough for the central bank to hold interest rates steady for the time being. Still, Bernanke wasn't ready to declare victory over inflation just yet and thus didn't close the door on the possibility of further interest rate hikes down the road.
Read the full story at Kiplinger.com
 
Don't count on home for retirement - 2007-02-14
Don't expect home equity to come through with a significant portion of retirement funding, declares a new report by Fidelity Investments. According to the study, home values underperformed stocks and bonds over every five- and 10-year period from 1963 to 2005. Home values have been slightly higher than the returns on treasury bills during the same time, according to the report.
Read the full story at MarketWatch
 






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