By MarketWatch
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We have a lot of real estate news and analysis for you today on MarketWatch, from mortgage rates and the bank foreclosure settlement to a report on what older Americans are doing with their home equity. (Hint: They?re not letting it just sit around.)
First, the 30-year-fixed mortgage rate held the record low it hit a week ago ? 3.87% ? while average interest rates on the 15-year-fixed mortgage and other loan products inched higher in response to positive job-market news for January, according to Freddie Mac?s latest survey of conforming mortgage rates.
Reporting from the International Builders? show in Florida, MarketWatch Editor Steve Kerch says that despite the beating that home prices have taken over the past five years, Americans are still optimistic about their own housing situation, a new poll shows.
And in his retirement column today, Robert Powell reports on another interesting study that shows many older Americans are using their home equity to boost tax-deferred savings, such as 401(k) investments. By using the home mortgage interest tax deduction, they?re benefiting on both sides of the tax code. It?s an intriguing way to leverage home equity, Bob writes, but there are risks along with the potential rewards.
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Anne Stanley
, Managing Editor, Personal Finance
Rate on 30-year-fixed mortgage holds at record low
The 30-year-fixed mortgage rate holds the line at the record low it hit a week ago, while average interest rates on the 15-year fixed-rate mortgage and other loan products inch higher in response to positive job-market news.
Read more: Rate on 30-year fixed mortgage holds at record low.
Boomers turn home equity into 401(k) funds
Some boomers are tapping their home equity and investing the money in tax-deferred accounts. There are risks and rewards to this sort of leveraging strategy.
Read more: Boomers turn home equity into 401(k) funds.
Americans still sold on homeownership
Seventy-eight percent of Americans identified as likely to vote in the 2012 presidential election said that owning their own home was one of the most important things in their lives, according to the survey by Lake Research Partners done for the National Association of Home Builders.
Read more: Americans still sold on homeownership.
Source: http://paydayloans-uk.org/thursdays-personal-finance-stories/
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