Mortgage news from around the webby Tim Manni
Mark Zuckerberg lands a dream mortgage
Or did he? While the social network tycoon landed an interest rate of only 1.05 percent, it can adjust to as high as 9.95 percent. This adjustable rate mortgage would likely be too much for any “normal” consumer to handle, our own Keith Gumbinger tells Amy Hoak of MarketWatch.com.
Buffett is bullish on housing
Should you take note? The on again, (often) off again housing market has many buyers and sellers stressed and confused. But Berkshire Hathaway Chairman and CEO Warren Buffett thinks housing is headed in the right direction (and with good reason). This video from the Motley Fool explains more.
HARP 3: Can we really expect millions more refinances?
How many more Americans can possibly qualify for a refi? Hasn’t every person who can refinance already done so? Not so fast. Each and every time mortgage rates fall a new audience has the opportunity to enter the refi arena. Loan officer Dan Green explains that newest refi plan could allow millions more to refinance. Read what Dan has to say.
Election year puts housing on hold
Finally, Michele Lerner, contributor to HSH.com, explores what (if anything) gets done during an election year. The answer: Not much. Be sure to read which important facets of the housing industry and which pending rule changes are being placed on the back burner because it’s an election year.