For the sixth time in seven weeks there has been an increase in mortgage rates. The average 30 year fixed rate mortgage went up to 6.26 percent. It is now at its highest level over the past ten weeks.
Not to be outdone, the 15 year fixed rate mortgage also rose. This popular […]

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Most people like fixed-rate mortgages because they know how much the monthly payment will be since it does not fluctuate with the mortgage market. However, the question then becomes a matter of securing a 15-year mortgage or a 30-year mortgage.
While there is no cut-and-dry answer, here is an article that will help you decide:
15 […]

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The average 30-year fixed mortgage held steady at 6.42%.  The average 15-year fixed rate mortgage, which is popular for refinancing, moved to 6.10%, down from 6.11% last week.  Adjustable rate mortgages increased slightly: the average 5/1 adjustable rate mortgage was 6.24 and the average one-year ARM settled at 5.92 from 5.90%.
Overall, fixed mortgage rates are […]

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Mortgage Interest rates fell a little again. That makes 9 of the last 11 weeks that rates have dropped. All total, rates on 30-year mortgages have dropped almost a half percentage point.
This week, the average […]

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The last time that home sales levels were this low was January 2004. All around the country, July home sales were way down, except in the South.Most experts feel that the downward trend will continue through the first part of 2007 because the existing homes inventory is at the highest level in 13 years. […]

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Mortgage rates dropped for the fifth week in a row. They were reacting to slow economic growth and the news that home sales slid down 4.1 percent compared to June. The average 30-year fixed rate fell to 6.48 percent from 6.51 percent. The average 15-year fixed, which is a popular option for refinancing, fell […]

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Interest only mortgages are great for allowing borrowers to get into homes that they could not otherwise afford. However, when it comes time for these mortgages to reset, the new payment amounts can come as quite a shock.
Many nationwide mortgage lenders are concerned that this will cause a rise in the number of loan […]

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Many in the mortgage business use this popular calculator.  It has all the financial functions you could want.  Well now you can download it for use on your desktop computer (or laptop, for that matter).
Thanks to Realty Blogging for finding this and making us aware of it!  Click here for all the information.

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The demand for home refinancing is leading the increase in home mortgage applications, according to the Mortgage Bankers Association.  The blog North Carolina Mortgage Loans has a post with all the details.  Here is an excerpt:
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and purchasing loans, […]

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Whether you are trying to secure a mortgage for a new home or looking to refinance your existing mortgage and consolidate debt, you have to love this news.
Mortgage rates fell for the fourth week in a row and the sixth time in seven weeks. The 30-year fixed hasn’t been this low since the first week […]

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