It’s October and that means one thing – it’s time for the Federal Reserve to meet again. They did, Wednesday. The big news was the official end of quantative easing, or the Fed buying mortgage and Treasury bonds to keep mortgage rates low.
After looking at the gap in home values as perceived by homeowners and appraisers, it became apparent that consumers significantly over estimated the value of their homes during the 2008 and 2009 downturns. This time period became one of the worst housing markets in decades, and caused millions of mortgage applications industry-wide to be restructured or denied. To help prevent this in the future, we’ve introduced two new exclusive indexes.
If you have a 30-year fixed mortgage with a rate of 4.5% or higher, there’s great news. Right now, a 15-year fixed is about 1% below the 30-year fixed rate. That means you could save thousands of dollars of interest over the life of your loan by refinancing to a 15-year fixed. If you’re interested in seeing if you could save money, enjoy a low interest rate, or pay off your loan faster, you owe yourself a chance to get a Quicken Loans Mortgage Review today!
The Federal Reserve met yesterday for the final time with Chairman Bernanke and the news was mixed (sound familiar?). Find out what happened in the latest Fed release in plain English.
Last week, the U.S. Senate confirmed the appointment of Janet Yellen as the next chairman of the Federal Reserve. Yellen will be the first woman to chair “the Fed” when she takes over on February 1.
Although ARMs were one type of loan used prior to the crash, what was called an ARM then and what is an ARM now are very different.
Hello mortgage fans. The day is upon us. On January 10, 2014 (that would be tomorrow), the government’s new Qualified Mortgage (QM) rules will go into effect and once they do, there ain’t no turning back.
2014! The start of the New Year is always about making a clean start – rising from the ashes of the previous year and soaring with excitement into the New Year like a baby phoenix. Unfortunately, not everyone shares the same sentiments and some instead begin the New Year with a big, dumb mistake. See who’s already shot themselves in the foot in 2014 with This Week in Financial Blunders.
My word, what a year for financial blunders. Well, technically “This Week in Financial Blunders” hasn’t been running for a full year, but the Zing Blog would be ill-advised not to include a “best of” list like every other publication in the blogosphere. Unfortunately, only people who work at Freddie Mac would read a “Top 12 Biggest Moves in the Primary Mortgage Market Survey” blog, so instead we’ve compiled our six favorite financial blunders from the past year. The biggest, weirdest, saddest and funniest are all here, so read them and weep. Weep for joy or sadness, whichever you prefer.
As 2013 gets closer to its end, last minute financial blunders are trying to make their mark on 2013. Which money mishaps made it in this week? Read This Week in Financial Blunders to find out.