30-year mortgage

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We Need More Flexible Home Mortgages

Today's loans 'designed for yesterday's borrowers'

(Newser) - In an op-ed headlined "The 30-Year Prison," Katherine Stone lays out what she sees as a big problem contributing to the housing crisis: "Today's mortgages are designed for yesterday's borrowers." Long gone are the days when people had the same stable job for life, and it's... More »

Plummeting Mortgage Rates Near Record Low

Rate for 30-year mortgage again below 5%

(Newser) - Interest rates for fixed-rate mortgages decreased this week, with the rate for a 30-year mortgage falling 0.05% to an average 4.98%, near January’s record low of 4.96%, MarketWatch reports. Thirty- and 15-year mortgage rates are down nearly a full percentage point from a year ago. The... More »

Mortgage Rates Plunge to Lowest Ever

But plunging house values make refinancing impossible for many homeowners

(Newser) - The benchmark 30-year mortgage interest rate has fallen below 5% for the first time ever as the collapsing economy continues to force interest rates down. Adjustable-rate mortgages fell to 5.25%, reports MarketWatch. But many homeowners can't take advantage of the new low rates to refinance because the value of... More »

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