Taking the plunge

Most 30-year loans are sold at a profit to investors in the form of mortgage-backed securities, which lose some value if the original loans are refinanced at a lower interest rate. Mortgage rates this time last year were a full percentage point higher with an average 30-year fixed mortgage rate at 6...

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Bibliographic Details
Published inThe Greater Baton Rouge Business Report Vol. 27; no. 24; p. 30
Main Author James, Emma
Format Trade Publication Article
LanguageEnglish
Published Baton Rouge Greater Baton Rouge Business Report 30.06.2009
Subjects
Banking industry
Banks
Credit scoring
Houses
Interest rates
Loans
Mortgage banks
Mortgage rates
Mortgages
Real estate sales
Refinancing
Baton Rouge Louisiana
United States > US
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Summary:Most 30-year loans are sold at a profit to investors in the form of mortgage-backed securities, which lose some value if the original loans are refinanced at a lower interest rate. Mortgage rates this time last year were a full percentage point higher with an average 30-year fixed mortgage rate at 6.62%, which would make a $200,000 loan carry a monthly payment of $1,279.96.
ISSN:0747-4652