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Tag: rate

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
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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Bulletin: 5-Year ARM Mortgage Hits Record 2.96 Percent

Bulletin: 5-Year ARM Mortgage Hits Record 2.96 Percent

The five-year ARM has hit an all-time record. Having fallen for the eighth consecutive week it now stands at 2.96 percent, according to Freddie Mac. The idea that ARM rates across the country would fall below 3 percent is stunning, proof that the country is awash in capital that essentially has nowhere to go. While […]

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Is Negative Interest Coming To America?

Is Negative Interest Coming To America?

“You’re money is no good here” used to mean someone was picking up your tab at a restaurant or country club. It was a gracious gesture, a courtesy and a compliment. Today the term means the world is awash in so much cash that really — we don’t want your money — especially if your […]

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Citi Rolls Out Mortgage Relief Program for Disabled Veterans

Citi Rolls Out Mortgage Relief Program for Disabled Veterans

Disabled veterans with Citi-owned mortgages may be able to tap into a special relief program recently announced by the financial giant. The program cuts interest rates for eligible service members and waives late fees and other past due amounts. The 2.5 percent rate reduction covers a two-year window. Service members are required to provide documentation […]

Posted in: Mortgages
Are ARM mortgage interest rates about to rise?

Are ARM mortgage interest rates about to rise?

The Consumer Financial Protection Bureau has come out with a new approach to mortgage financing, good faith estimate forms (GFEs) that are supposed to be better than the form introduced by HUD in 2010. This is important stuff for three reasons: First, HUD estimates that the 2010 GFE saves borrowers $700 per loan. Second, when […]

Posted in: Mortgages
Is the government holding down mortgage interest rates?

Is the government holding down mortgage interest rates?

One way to re-start the housing sector and thus a big part of the American economy would be to assure that mortgage quotes were as low as possible. And given that banks today can borrow money at pretty close to zero, is the government now forcing down mortgage rates to 5 percent or less? The […]

Posted in: Mortgages
New HUD Rule Goes After Fake Mortgage Loan Letters

New HUD Rule Goes After Fake Mortgage Loan Letters

Did you ever wonder why you get so many letters and emails from lenders who offer low mortgage quotes and seem to be affiliated with the FHA or HUD? The answer, very simply, is that you ought to wonder. Why? Lenders are not supposed to imply or infer any endorsement from the federal government. In […]

Posted in: Mortgages
Will Rising Gas Prices Down Home Values?

Will Rising Gas Prices Down Home Values?

About the last thing anyone wants to hear is that gasoline prices are rising. They topped $3 a gallon at year-end and the outlook for the future is hardly great: Several sources are predicting $5 gas by 2012. In a very-direct way gas prices have a lot to do with current mortgage rates, refinancing and […]

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