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Mortgage rates make this best time to buy or refinance
He (or she) who hesitates is lost! It’s an old saying, and right now it applies to the housing market. Yes, the economic headlines are still gloomy, many are unemployed, and foreclosures are actually...
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Refinancing mortgage for shorter term can bring huge savings
Most people refinance to save money. That usually means jumping to a lower rate. But you also can save big bucks by trimming the term of your loan, possibly at the very same low rate. Most lenders...
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There may be more time to take advantage of low mortgage rates
After waffling on how long low mortgage rates are expected to stick around, some analysts have called for rates to not rise significantly through next year. Honestly, that’s about as specific as anyone...
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How to Take Advantage of Low Rates
With mortgage rates continuing to linger around record lows, potential homebuyers and homeowners considering refinancing should act now before they miss the boat, experts say. According to Freddie Mac,...
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Government-backed mortgages are a good thing
How should we reform our broken housing finance system? To what extent should the federal government continue to provide guarantees for mortgage financing, such as the ones it provides for Fannie Mae...
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The Right Time and Place to Buy
As both mortgage rates and housing prices head higher, home buyers may be wondering whether they ought to settle for whatever property they can get now, rather than risk paying more later. The answer...
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Why higher mortgage rates will help the housing market
Mortgage interest rates have been rising on signs that the U.S. economy is improving. Last week, the 30-year fixed rate reached the highest level in more than six months, climbing to an average of...
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Investors Widen U.S. Rental Search as Home Costs Rise: Mortgages
Landlords seeking the highest returns for single-family homes should hit the road as rental rates weaken in Atlanta, Phoenix and Las Vegas, where institutional investors have flooded the market. The...
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Will higher mortgage rates kill the housing market? Maybe not!
Home prices have been soaring over the past year, the sharpest gains in seven years; construction activity is picking up nicely. Both trends have been driven in no small part by a steady drop in home...
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Home Loan Rates Near 4% Send Buyers Scurrying
Rob Braunstein said his search for a three-bedroom home on a quiet street in Needham, Massachusetts is taking on more urgency as he watches mortgage rates tick higher. Every increase, he worries,...
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Are Fixed-Rate Government-Backed Mortgages Over?
Congress has restarted its slog about the fate of Fannie Mae and Freddie Mac – and at stake could be the future of your standard issue 30-year fixed-rate mortgage. The two mortgage giants became wards...
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Sales of Existing Homes Slip; Prices Continue Higher
Existing home sales dipped slightly in June and May sales were revised down from previously reported levels the National Association of Realtors® (NAR) said today. Sales of previously-owned...
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Economists Explain Why Homebuyers Flock to 30-Year Fixed Mortgage Rates
A large majority of homebuyers choose a 30-year fixed rate mortgage when taking out a loan to buy a home, but it may not be the best choice for all households. Frank Nothaft, chief economist with...
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Has Kick-Start in Employment Pumped Up Mortgage Rates?
Mortgage rates inched up slightly this week, and Freddie Mac’s chief economist vaguely suggested that the job market had a major impact on this change. According to Freddie Mac’s Primary Mortgage...
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Why 2014 is a great year to buy a house
Right now is a great time to buy a house. To understand why, I encourage you to spend a moment contemplating the chart above. What it shows is that the interest rate you pay on a mortgage matters a lot...
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Thinking of borrowing? Low mortgage rates may be poised to rise
If you’re borrowing to buy a house, there’s almost never been a better time to do it. Interest rates on an average 30-year fixed-rate mortgage hit 4.1% this week, a low for the year, according to...
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Why did millions of Americans just not bother to refinance their mortgages?
If you got this offer in the mail promising to save you money on your mortgage, would you believe it? Elliott Torres and his wife received a letter like this last May, while they were struggling with...
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Warren Buffett Shocked Over Dull Mortgage Activity
One of the world’s richest men is utterly confused about why mortgage volume is still in a state of stagnation. According to a Bloomberg report of a speech delivered at a Fortune Magazine conference...
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