Home Loans & Mortgages

It has been reported that the Obama administration has proposed a hose -down of the US mortgage market that would limit the Government’s role in supporting home ownership through implied Government Guarantees and mortgage facilitation through Fannie Mae and Freddie Mac.

Many financial experts are saying that there is a 50% chance that mortgage rates will rise on the back of the RBA raising the official interest rates when it meets on the 5th October 2010.
Others say a rise is more likely in November or December. The NAB has recently changed sides and now says that rates could rise in October [after earlier saying February 2011 was the right time to move on rates. So Mr Mortgage is feeling a bit lonely but still sticking with the few remaining experts and savvy investors that say Feb 2011 is the time the RBA will raise interest rates.

Good news for homeowners and home buyers in the US: Interest rates are held at zero percent, and rates could be headed lower.

If Obama’s the answer, then what is the question?
It’s the economy, Dummy!

In a see sawing day on Wall street, US stocks finished lower for for the 5th straight day as the meltdown continues, with US Banks leading the route. Mr Mortgage says that are are hopes that Australia’s market will be higher on Monday on Futures trades, but that does not take into consideration people ready [...]