Tag: Mortgage Banks/Real Estate Credit
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Looking for a mortgage, car loan, or boost for your credit-card limit? More lenders are saying no.
[ad_1] A rising number of consumers say lenders are rejecting their loan applications. What’s more, record-breaking shares of people expect lenders to keep saying no on mortgage applications, car loans and bids for credit card increases well into 2024. This is according to new survey data out from the Federal Reserve Bank of New York.…
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Most people can’t afford long-term care, but there are some ways to cover the costs
[ad_1] This is reprinted by permission from . As many as 8 in 10 older Americans couldn’t afford more than four years in an assisted living facility or two years in a nursing home, according to a 2023 analysis by the National Council on Aging and the LeadingAge LTSS Center @UMass Boston. This is particularly…
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Home builders turn bullish for the first time in nearly a year amid strong housing demand
[ad_1] The numbers: For the first time in nearly a year, home builders are upbeat about the housing market outlook. The shortage of previously-owned sales is helping to buoy builders’ confidence. With mortgage rates above 6%, many homeowners find little incentive to sell—nearly 92% have an outstanding mortgage with a rate below 6%, according to…
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Opinion: Homeowners desperately need easier and better mortgage refinancing tools
[ad_1] It’s certainly a bad time to refinance your mortgage. Rates for 30-year-mortgages are the highest they’ve been in decades. But not too long ago, during the 2020 pandemic, rates dropped to below 3%, and it was a good time to refinance. About $14 trillion of outstanding mortgages were refinanced then. Lenders did well and…
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‘I’m 63 and hate my work. Should I claim Social Security and quit my job?’
[ad_1] Dear Quentin, I’m 63 and desperately hate my work. I’ve had the same job for the last 19 years and every day I’m there, I just want to quit. I have $330,000 in cash and investments, $30,000 in my employer’s retirement fund and a remaining mortgage of $83,000. The payment (including property taxes) is…
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‘A modest recession will begin in the second half of 2023’: Fannie Mae
[ad_1] The U.S. economy will enter into a “modest recession” in the back half of 2023, Fannie Mae FNMA forecasts. “We maintain our view that a modest recession will begin in the second half of 2023,” Doug Duncan, senior vice president and chief economist at Fannie Mae FNMA, -0.27%, said in a statement. The government-sponsored…