American's are hooked on credit card rewards and while those that give consumers free airline miles are pretty old hat, lenders are constantly coming up with new ways to lure the plastic addicted to switch accounts.
Two of the newest variations involve mortgages and both are rather creative...
We don't usually cover the monthly report on pending home sales issued by the National Association of Realtors® (NAR), concentrating instead on NAR and the Census Bureau's other reports on housing permits and starts and the completed sales of new and of existing homes. However, with good news in such short supply lately - perhaps the understatement of the year - it seems worth talking about the smidgen of sunshine that accompanied the pending sales report for June.
Mortgage rates continued to ebb and flow within a narrow range last week; most rates are little changed from where they were in late July 2006.
Frank Nothaft, Freddie Mac vice president and chief economist commented that "Mortgage rates eased this week on market concerns that a further weakening of housing demand this spring will delay any recovery in the sector. For example...
After two days in which trading was suspended on the basis of information about margin calls, shares in American Home Mortgage (AHM) were again put into active trading on Tuesday and immediately lost over 90 percent of their value.
Stock in the company had been trading around $36 as recently as February but had fallen to.
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