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Tag: interest

Will Worse Gas Prices Raise Mortgage Rates?

Will Worse Gas Prices Raise Mortgage Rates?

Gas prices are rising in the US and it makes you wonder: will mortgage rates soon be rising as well? The questions are not unrelated. In basic terms the price paid for gasoline at the pump has very little to do with the actual cost of production, refinement and distribution. However, the price paid at […]

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Caution: Refinancing with Low Mortgage Rates May Not Work

Caution: Refinancing with Low Mortgage Rates May Not Work

I got a letter from my mortgage lender offering to refinance my home. I could lower my rate, said the letter, and I might save money. Actually, both claims are correct but the bigger issue is whether refinancing is actually worthwhile. According to the letter my mortgage rate would drop from 4.63 percent to 4.46 […]

Posted in: Mortgages
American Chopper Vs. Jesse James: Who Really Wins?

American Chopper Vs. Jesse James: Who Really Wins?

The stage is set for the most-publicized motorcycle build-off in recent memory. The two-night battle to be shown live from the Hard Rock Cafe in Las Vegas will feature three well-televised bike builders, Paul Teutul Sr. with Orange County Chopper, Paul Teutul, Jr. from PJD designs and Jessie James, the once-host of Discovery’s Monster Garage […]

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American Chopper — Foreclosure Vs. No Foreclosure
By November 7, 2011 Read More →

American Chopper — Foreclosure Vs. No Foreclosure

So which is it: Was the Orange County Chopper world headquarters foreclosed or not? The answer as derived from the American Chopper TV show and public information is very simple: Both. Let’s start with foreclosure. It’s plain that a foreclosure action was initiated by the lender, the GE Commercial Finance Business Property Corp. The matter […]

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Has Mortgage Lending Gotten Better Since Wall Street Reform?

Has Mortgage Lending Gotten Better Since Wall Street Reform?

Has lending really gotten better for borrowers during in the past few years? Certainly mortgage rates have improved. In recent weeks they have been at or near historic lows. But no less important the lending system has improved. It’s not just that mortgage rates are better, it’s also that the probability of getting a good […]

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America’s Big Banks, America’s Financial Vietnam

America’s Big Banks, America’s Financial Vietnam

Three years ago the most-powerful instutitions in America were the nation’s largest banks and brokerages, Wall Street for short. While millions of people were losing their homes, their jobs and their savings, the nation’s elite extracted a $700 billion line-of-credit from Uncle Sam. Now Wall Street is our financial Vietnam. It’s broken. The old cures […]

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Should Government Set Mortgage Rates?
By September 26, 2011 0 Comments Read More →

Should Government Set Mortgage Rates?

With all the talk of getting a new mortgage there’s one question which no one seems ready to touch: Why doesn’t the government ought to set mortgage rates? At first this may seem like an audacious idea, a violation somehow of the free market absolutism preferred by so many businesses and industries — at least […]

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Ready For The 3 Percent Mortgage?
By September 23, 2011 1 Comments Read More →

Ready For The 3 Percent Mortgage?

It was in the 1880s that long-term interest rates hit 3.5 percent, something we may soon see with mortgages. Mortgage borrowers are now seeing home loans at not much more than 4 percent for 30-year, fixed-rate mortgages. And, reports HSH.com, 15-year loans are already below 4 percent. The lower rates result in substantially reduced monthly […]

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Pawn Stars — How To Win At Haggling
By September 21, 2011 0 Comments Read More →

Pawn Stars — How To Win At Haggling

If it’s true that American Chopper is a metaphor for the workplace then there’s little doubt that Pawn Stars is its retail equivalent, a place where each week viewers get a chance to see the odd, the interesting and the way business really works. With the economy the way it is — driven into the […]

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Mortgage Rates Sink, Hit Yearly Low

Mortgage Rates Sink, Hit Yearly Low

Mortgage rates are in the dumper. Freddie Mac is reporting that mortgage rates have hit their lowest levels since last November. The 30-year fixed-rate mortgage averaged 4.39 percent, its lowest level for 2011. Last year at this time, the 30-year FRM averaged 4.49 percent. The 15-year fixed and 5-year ARM set new historical record lows […]

Posted in: Mortgages