Turks.US Daily News - Washington Mortgage Rate Slides http://www.turks.us/article.php?story=200606091... The mortgage company, Freddie Mac reported that rates on 30-year, fixed-rate mortgages averaged 6.62%, down from 6.67% last week. That could have been the highest level in nearly four years.
Home Mortgage Refinancing: Know Where You Stand and Hold your Ground http://www.hqpress.com/business/home-mortgage-r... Mortgage rates generally trend down at the moment, but this decline does not provide much benefit to those who signed up for low-introductory-rate adjustable-rate mortgages (ARM) in the past few years. An ARM is a type of mortgage that charges a discounted rate for an initial period of time, after which it resets to market levels. For instance, ARMs that offer really enticing introductory rates of 2 percent or less are likely to jump to rates of more than 6 percent””and even as high as 9 percent””by the time they adjust to market levels. Hence, for millions of homeowners out there who have adjustable rate mortgages, that is very sobering news. This article examines some important things you need to know about the current state of home mortgage refinancing.
Home Mortgage Refinancing: Are Falling Mortgage Rates Enough to Revive Markets? http://www.hqpress.com/business/home-mortgage-r... Mortgage rates and real estate markets both show a pattern of correlation””low mortgage rates drove housing boom of the past few years; rising mortgage rates dramatically induced the market deceleration in recent times. So now that mortgage rates are taking the plunge once more, does it imply that markets are on the rise again?
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