RateNerd

Mortgage Rates Decline Slightly

Mortgage rates dropped again yesterday, around 11 bps. Refinance activity is going to jump again with low rates and new interest in the 125% program announced this week.

This Just In: Refinance at 125% of Market Value

125% mortgages went away in the late '90's - early '00's because they were dumb loans. So now the government is encouraging people to trade in their dumb neg-am loans for dumb 125% loans. When is someone going to realize that the cycle needs to end and stop lending money to people who cant manage their finances?