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US rate on 30-year mortgage hits record 3.83 pct.
Average U.S. rates for 30-year and 15-year fixed mortgages fell to fresh record lows this week. Cheap mortgage rates have made home-buying and refinancing more affordable than ever for those who can qualify.
Canada housing agency sees rates on hold in 2012
OTTAWA (Reuters) - Canada's federal housing agency predicted on Tuesday that the central bank will hold interest rates at 1.0 percent for the remainder of this year, and said it expected mortgage rates to also stay relatively flat in 2012. CMHC did not say how it arrived at this particular outlook on central bank monetary policy, which is more dovish than that of many market players. "The Bank of Canada has kept its target for the overnight interest rate at 1.0 percent since September 2010 and has indicated that it is likely to remain at 1. ...
Maybe no housing rebound for a generation: Shiller
NEW YORK (Reuters) - The Housing market is likely to remain weak and may take a generation or more to rebound, Yale economics professor Robert Shiller told Reuters Insider on Tuesday. Shiller, the co-creator of the Standard & Poor's/Case-Shiller home price index, said a weak labor market, high gas prices and a general sense of unease among consumers was outweighing low mortgage rates and would likely keep a lid on prices for the foreseeable future. "I worry that we might not see a really major turnaround in our lifetimes," Shiller said. ...
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Most Canadians plan no home buying in next 2 years: RBC
TORONTO (Reuters) - A growing majority of Canadians do not intend to buy a house in the next two years, even with mortgage rates near record lows, according to a Royal Bank of Canada survey released on Thursday. In RBC's annual poll of Canadian homeowners, 73 percent of respondents said they are unlikely to buy within the next two years, an increase of 2 percent over the previous year's survey. However, 46 percent of those polled expected mortgage rates to stay at ultra-low levels next year, up sharply from 30 percent in 2011. ...
Ahead of the Bell: Weekly mortgage rates
Freddie Mac is expected to report on weekly mortgage rates on Thursday morning.
BofA mortgage move not likely to have big consumer impact
(Reuters) - Bank of America Corp appears to be going it alone in not selling mortgage loans to Fannie Mae, a move that, while sending an angry signal to the nation's largest mortgage-buyer, could force the bank to charge less attractive mortgage rates. Some major competitors indicated on Friday they are not following Bank of America's decision to stop selling most of its new loans to the government-controlled buyer of home loans. ...
Low prices boost SF home sales to 5-year Jan. high
Home sales in the San Francisco Bay area reached a five-year high for January, as prices and mortgage rates plunged, a real estate tracking firm reported Thursday.
Rate on 30-year mortgage drops to record 3.89 pct.
Fixed mortgage rates fell once again to a record low, offering a great opportunity for those who can afford to buy or refinance homes. But few are able to take advantage of the historic rates.
Credit score focus of new celeb-backed debit card
Personal finance media personality Suze Orman is thinking big. She's the first out of the gate in the fast-growing prepaid debit card market with a card that aims to help its users build a credit score. It's a gamble that could pay off, if it can help create a way measure the creditworthiness of millions who function outside the traditional financial system.
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