Where are mortgage interest rates are going?

Renter Nation

The American dream of owning a home is still very much alive, but it will be no more than a dream for a growing number of people over the next five years. That's bad news for home builders, who already have big troubles, as June's reports on housing starts, existing-home sales, building permits and unsold-home inventories showed. But it is good news for anyone renting out a home, apartment or condo, or any real-estate investment trust specializing in residential rental properties.

Most U.S. households own the dwelling they live in, and that isn't likely to change. But demographic and economic forces, together with some perversities of government policy, are combining to push the share of ownership back to where it was in the early 1990s. Already, in the wake of the housing bust that brought on the Great Recession, the share of U.S. households owning homes has slid steadily—from 69% at its peak in 2004 to 67.2% in this year's first quarter. And the rate is likely to fall to its 1993-94 level of 64% by 2015.

http://finance.yahoo.com/real-estate/article/110173/renter-nation?mod=realestate-buy

Buy now at historical low interest rates 3.75% 15 year fix or 4.25% 30 year fix!

As home prices fall, more borrowers walk away

When David Martin and his wife bought their north Seattle condo five years ago, they figured they had plenty of time to downsize if they needed to before they retired.Now, with the property worth roughly $60,000 less than the balance of their mortgage, Martin, 68, has been giving serious thought to just walking away, a process lenders call "strategic default."

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As home prices fall, more borrowers walk away

Nation’s debt passes grim milestone

The nation's debt has reached a symbolic milestone. With gross domestic product of roughly $15 trillion and total debt of $15.23 trillion, our total debt is now bigger than our economy, as USA Today noted Monday.

What's more, the Obama administration's projections put our debt at more than $23 trillion by 2020, well in excess of the projected $22.5 trillion GDP. Analysts agree that the rising debt ratio is not good, but they can't agree on just how bad it is, and while there's at least some agreement among economists about how to fix the problem, lawmakers have no such common ground — which is one of the biggest hurdles to actually doing something about the debt dilemma.

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Nation’s debt passes grim milestone