Refinance mortgage applications up, housing signals mixed - 2007-02-28
Mortgage applications for U.S. home purchases and refinance mortgage loans climbed last week when long-term borrowing costs decreased, an industry trade group declared on Wednesday, but other housing measures were mixed. Stock and bond market turbulence on Tuesday dragged down some Treasury yields to two-month lows, signaling a further slide infixed mortgage rates that should fuel home sales in coming weeks, analysts said.
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Freddie Mac plans to toughen mortgage rules - 2007-02-28
If you've had difficulty paying your bills lately and want to purchase a home, or recently bought one with an adjustable-rate mortgage, pay attention: Lenders are making it more challenging for people with weak credit histories to qualify for a home loan or refinance an existing one. Freddie Mac, the nation's second-biggest financer of home mortgages, said Tuesday that it will stop purchasing subprime adjustable-rate mortgages and will require more borrowers to prove they earn the income they write down on their loan applications.
Read the full story at Jackson Clarion Ledger