Word: mortgagee
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With that familiar scare tactic being trotted out yet again (no, the shrinking surplus doesn't imperil current Social Security recipients), it's tempting to turn off the whole sorry show and head back to the beach. But the dwindling surplus will have a real impact on ordinary Americans. To...
That spree has been thus far made possible by the economy's one strong spot, housing; rampant mortgage refinancing at lower long-term interest rates (and higher home valuations) has helped consumers restructure their debt and come out ahead a few hundred a month in spending money. But that boom...
But Greenspan doesn't dictate long-term rates. So while his efforts have shaved a percentage point or so off the cost of auto loans and credit cards, they have done nothing to ease the burden of fixed-rate mortgages, the mother of all household debt. Even though housing sales...
It isn't out of the question. When stocks go south, housing feels it a year or so later. We're there. Stumbling retail sales indicate consumers are losing faith in a rebound and are reining in spending--a possible precursor to slower home sales. Already, the high end has...
See time.com/personal for more on mortgage rates. See Dan Tuesdays on cnnfn at 2:15 p.m. E.T.