Reverse mortgages: Understanding the basics

Sep 24, 2007

Chase reclassifies properties of parents and children for borrowersMortgagePress.comBuying a home for a child or elderly parent Chase has announced a new mortgage program, Chase Family Opportunity Mortgage, specifically for borrowers that wish to buy a home for their children attending college or elderly parents. The program classifies the property in question as a second or vacation home, rather than a rental home (as would normally be the case), significantly reducing fees and interest. Certain restrictions apply. New York-based Chase is a home equity lender and subsidiary of JPMorgan Chase & Company. For more information, visit www.chaseb2b.com.

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Sep 24, 2007

Analysis and Data

Mortgage Rates Surpass 7% For First Time This Year

Freddie Mac reported the 30-year fixed-rate mortgage averaged 7.10%.

Freddie Mac today released its Primary Mortgage Market Survey, revealing the 30-year fixed-rate mortgage (FRM) averaged 7.10%, breaching the 7% threshold for the first time this year. “The 30-year fixed-rate mortgage surpassed 7% for the first time this year, jumping from...

Analysis and Data

Existing Home Sales Decline By 4.3% In March

Northeast the only region to see an uptick in sales over prior month, per a new report from the National Association of Realtors

Fewer people bought homes this March than the month before and during March 2023, a new report from the National Association of Realtors (NAR) reveals. Total existing-home sales receded 4.3% from February to a seasonally adjusted annual rate of 4.19 million in March. Year...