Subprime loans slide with housing market - 2007-02-23
Homeowners with troubled credit histories are finding it more difficult to get obtain mortgages or refinance homes because softening in the housing market is making lenders less likely to take on riskier loans.
Several lenders of subprime mortgages have shown evidence of trouble after the housing bubble popped and more homeowners started defaulting high-interest mortgages.
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Refinance mortgage rates drop to lowest level in 6 weeks - 2007-02-23
Rates on 30-year refinance mortgage loans dropped this week to the lowest level in six weeks. The mortgage company Freddie Mac reported on Thursday that 30-year, fixed-rate mortgages averaged 6.22 percent this week versus 6.30 percent last week. Freddie Mac's survey showed that other types of mortgage rates also decreased this week. Rates on 15-year, fixed-rate mortgages, a popular choice for mortgage refinancing, were at 5.97 percent.
Read the full story at Buffalo News