(AFX UK Focus) 2010-05-25 15:12 UPDATE 1-Freddie Mac portfolio grows, delinquencies mixed
(AFX UK Focus) 2010-05-25 15:12 UPDATE 1-Freddie Mac portfolio grows, delinquencies mixed
NEW YORK, May 25 (Reuters) - Freddie Mac, the No. 2 U.S. home finance agency, said on Tuesday its portfolio grew in April for the first time in 2010 after the Federal Reserve concluded its buying of mortgage securities in March. The levels of home loans with late payments were mixed in April but remained above year-ago levels, suggesting persistent strain on home-owners due to high unemployment …
Lenders cut back on interest-only loans
Interest-only mortgages are being phased out as some of the biggest UK lenders raise rates and tighten restrictions. It makes financing a property purchase even more difficult for the self-employed and those without a regular wage.