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As shown in the two graphs above, 15-year mortgages now make up a much smaller percentage of fixed-rate loans in Massachusetts than in past years. The percent of 15-year mortgage originations compared with 30-year mortgages has dropped each year between 2002 and 2006.
o Statistics for fixed-rate mortgages in Massachusetts
o Source: LoanPerformance |
15-Year Mortgages See Sharp Decline
By Andrea Gregory
Some lenders are expressing astonishment at a sharp decline in the popularity of 15-year mortgages while others point to the trend as yet another example of how rapidly the lending marketplace is changing.
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Burlington Site Enjoys Double Shot
By Joe Clements
Buying Burlington’s 77 South Bedford St. might not have been an original idea, but it was the right one for Equity Office Properties, Vice President Joe Gorin said after the real estate investment trust acquired the 5-story building for $23.5 million less than a month after the same asset was purchased by Parsons Commercial Group.
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Realtors Get Ready for Day on the Hill
By Katie Curnutte
Transfer tax bills that the Massachusetts Association of Realtors says would discriminate against homebuyers and sellers and reforms that could create statewide codes for wetlands and septic regulations are among the legislation that MAR members will focus on during the 21st annual Realtor Day on Beacon Hill next Monday.
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Local Banks Doing Their Part to Assist Victims of Flooding
By Andrea Gregory
Most bank presidents don’t go to work expecting to perform physical labor. But when Charlie Cullen, president and chief executive officer of The Provident Bank in Amesbury, saw his community suffering at the hands of the recent Mother’s Day storm that lasted for days and flooded many North Shore areas, he rolled up his sleeves and was prepared to lend a hand in the middle of it all.
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