Rule of 22 can help you see refinance mortgage ramifications - 2007-04-02
Now and then, someone asks me if it would make sense for them to do a refinance mortgage. Obviously, for refinancing to make financial sense, current interest rates must be lower than your current mortgage rate. But how much lower? Rates would have to drop to the 3 percent to 4 percent range for a no-cash-out, straight refinance to make sense for these mortgages.
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Report: Subprime Mortgage Woes to Drag Housing Market in '07 - 2007-04-02
A new economic report released says the sub-prime mortgage implosion will take a bite out of the already slowing real estate market. As lenders tighten credit standards, the housing market will see even more drops in prices and output, according to senior economist David Shulman in the quarterly Anderson Report released by UCLA.
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