Word: mortgagee
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Just ask Holyhead. She has paid rent of ?750 a month for a one-and-half bedroom flat not far from her new house. Her variable-rate mortgage, on the other hand, will cost just ?500 a month as long as rates hold. Overall, Britons pay only 8% of their...
The trouble is, new mortgages last for 25 years and these relatively balmy economic conditions won't. One risk is that the economy, which grew a surprisingly sluggish .1% last quarter, doesn't pick up as strongly as economists expect and unemployment starts to rise. (Right now, it remains near...
Avid readers of TIME.com's Person of the Week feature will find this week's subject familiar. On August 30, nearly seven months ago, we wondered whether the American Consumer - enriched by mortgage refinancing but jarred by layoff announcements - would spend enough to keep the weakest U.S. economy in a...
In the meantime, the interest-rate cycle has turned. Last week the Fed declared itself officially out of the stimulus game, returning its interest-rate bias to neutral after 11 straight cuts and readying the markets for a return to - gasp - inflation watch. Greenspan won't be intervening in this...
Though the bequest cannot erase this debt, Pollari said that it would give UniLu some financial flexibility by freeing about $30,000 from mortgage payments to pay for operating expenses.