*Note: This was written by a Yahoo! contributor. Do you have a personal finance story that you'd like to share? Sign up with the Yahoo! Contributor Network to start publishing your own finance articles.The first two years of my college experience was spent at a community college. My tuition was covered, but I took out a loan for $20,000 to cover living expenses. Upon transferring to a costly four-year...
Home market being held back by wary first-timers
Labels: Business
WASHINGTON (AP) — This should be a great time to buy a first home. Prices have sunk to 2002 levels. Sellers are waiting anxiously as homes languish on the market. Mortgage rates are their lowest ever.Yet the most likely first-time homeowners, especially young professionals and couples starting families, won't buy these days. Or they can't. Or they already did, during the housing boom. And their absence...
U.S. Housing Market Still On Life Support
Labels: Business
With each passing year, the former Oracle of the Fed, Alan Greenspan, is reminded that there really was a housing bubble and lowering interest rates to record lows just matters worse. Nearly four years after the housing market peak in 2007, record low mortgage rates are no match for falling incomes and 9% unemployment.The Case-Shiller Home Price Index, released on Tuesday, showed that nation...
U.S. Housing Market Still On Life Support; Prices At 2003 Levels
Labels: Business
With each passing year, the former Oracle of the Fed, Alan Greenspan, is reminded that there really was a housing bubble and lowering interest rates to record lows just made matters worse. Nearly four years after the housing market peak in 2007, record low mortgage rates are no match for falling incomes and 9% unemployment.The Case-Shiller Home Price Index, released on Tuesday, showed that...
Rate on 30-year fixed mortgage falls to 3.98 pct.
Labels: Business
WASHINGTON (AP) — The average rate on the 30-year fixed mortgage hovered above its record low for a fourth straight week. But cheap mortgage rates have done little to boost home sales or refinancing.Freddie Mac says the rate on the 30-year fixed loan fell to 3.98 percent from 4 percent the previous week. Seven weeks ago, it dropped to a record low of 3.94 percent, according to the National Bureau...
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