Interest Only Second Mortgage
Interest rates suppress earnings at Thornburg
Thornburg Mortgage reported large gains in loan originations and total assets for the period ended June 30, 2006, but only a small increase in earnings as the interest rate environment compressed the company's margins.
The Santa Fe-based lender that specializes in making jumbo, adjustable-rate mortgages, reported that its second quarter originations were up 31 percent year-over-year, to $1.4 billion, while total assets increased 45 percent from the prior year, to $49.9 billion.
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In Mexico, mortgages without borders
First it was interest-only mortgages, then adjustable-rate mortgages. The next big product for home buyers in this country could be the "hipoteca de tasa fija a 20 años," as 20-year fixed-rate mortgages are known in Mexico.
Buoyed by gains in domestic real estate, Americans have jumped into the worldwide housing market in recent years, buying second homes in far-flung destinations.
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