Nigerian President Goodluck Jonathan says his government will create more than 200,000 affordable mortgages over five years and introduce rent-to-own options for low-income housing to address a massive shortage in Africa’s most populous nation. Jonathan outlined the plans in a New Year’s Day address. Nigerian banks currently hold only 20,000 […]
Mortgages
U.S. mortgage applications fall as refinance hits five-year low: MBA
Applications for U.S. home mortgages fell for a second week and hit a 13-year low as mortgage rates rose due to a bond market sell-off following the Federal Reserve’s decision to pare its bond purchase stimulus in January, an industry group said on Tuesday. The Mortgage Bankers Association said its […]
Mortgage Refinance Company Now for Launch in Q1
The proposed Mortgage Refinance Company (MRC) being promoted by the Federal Government to address the acute housing problem in the country, is billed for launch in the first quarter of 2014. Initially planned to kick off in November 2013, the federal government is said to have decided to shift the […]
