State Housing Division Starts Offering 40-Year Mortgages
By JOHN G. EDWARDSThe State Housing Division is starting to offer 40-year mortgage loans in addition to 30-year loans in an effort to help more first- time home buyers qualify for home loans.
Source: www.builderonline.com
Consumer Borrowing Rebounds Sharply
The Federal Reserve says consumer borrowing rose at an annual rate of 6.2 percent in November, a rate that more that doubled the figure economists had forecast. The cause: strong retail sales and a jump in credit card debt.
Source: www.cbsnews.com
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