Worrying rise in 30-year mortgages
Mortgages with a 30-year lifespan are on the rise. The Office for National Statistics reveals that 23.3%, or almost a quarter, of all new mortgages are spread over three decades or more.
The 25-year mortgage has been dying since the early 1990s when it accounted for 70% of all mortgages. Today the figure is just 30%.
It's a worrying process that shows an increasing proportion of mortgage buyers opting to pay over a longer period.


October Housing Scorecard Finds Market On The Mend



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Police catch US soldier fugitive on run over $75m mortgage fraud
October 22, 2012, 8:07 AM

Former US solder caught after three years on the run for mortgage fraud

Irish police have caught a fugitive who has been on the run for three years for $75m mortgage fraud US.

California Mortgage Company Owner Sentenced to Nine Years in Federal Prison in $30 Million Mortgage Fraud Scheme

Created on Monday, 24 September 2012 21:14

Santa Ana, California - The owner of a Pasadena mortgage brokerage firm was sentenced today to 108 months in federal prison for participating in a mortgage fraud scheme that obtained more than $30 million in loans.

A fixed mortgage rate is very advantageous to a homeowner because the rate of interest for the home loan taken will not vary throughout the loan period. There are different kinds of fixed mortgage rates depending upon the requirement of the homeowner and how much he is willing to pay. It is a fact that most people prefer an interest rate that doesn't change through out the entire loan period. It is also true that a fixed mortgage rate, in the beginning gives off higher interest rates when compared to the average type of mortgage loan. But whatever the market is subjected to, those fluctuations will not affect your fixed rate. This fact was comforting for those people who had to take out a mortgage during the last two years. The higher rates of unemployment, lack of timely payment for services done and price rises all carried a heavy weight on the shoulders of the homeowner. Thankfully, he doesn't have the added worry of raised home payment during those critical years.

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A mortgage payment can be crippling to a borrower's budget.

30-year fixed-rate mortgage now at 3.83%: Freddie Mac

May 10, 2012|

CHICAGO— Rates on fixed-rate mortgages hit record lows this week, with the 30-year fixed-rate mortgage averaging 3.83% in Freddie Mac’s most recent survey of conforming mortgage rates, released Thursday.

Mortgage rates for 30-year loan now stand at 3.78 percent. Fixed mortgage rates for 15-year loans are unchanged at 3.04 percent, a record low.

May 27, 2012

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