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Posts Tagged ‘MORTGAGE rates’

Putting out the fire






The article discusses efforts by the Canadian finance minister Jim Flaherty to curb the generous lending practices of the country’s banks. The goal is to cool down the Canadian real estate market by driving down prices and making mortgages more expensive, but without having to increase interest rates. The author discusses the actions of Flaherty and Bank of Canada governor Mark Carney.


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Loan terms made to order

LOOKING for a mortgage that will retire when you do? Or maybe you want to time a refinancing so that the loan is paid up when the kids head off to college. There are a number of lenders that would be happy to oblige. Customized mortgages aren’t new. But industry experts say they are seeing more and more borrowers opt for fixed-rate loans with terms other than the standard 30 or 15 years, especially when it comes to refinancings. [ABSTRACT FROM AUTHOR]

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HOME

The article discusses the outlook for the U.S. housing market in 2012. Economists and real-estate professionals generally expect home prices to rise 0.25%. Price growth will be restrained by an estimated 5.4 million homes either on the market or liable to be put up for sale. Economist Jay Brinkmann believes mortgage rates will stay below 5% for the year.

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Save money on your mortgage

The article discusses how to save on mortgage costs. Low rates on 30-year mortgages in the U.S. make it financially worthwhile for some homeowners to refinance their mortgages. Those who refinance into 15- or 20-year loans can both reduce interest costs and retire their loans sooner. Those with large mortgage debt may wish to consider an adjustable-rate mortgage.

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Record-low mortgage rates not for everyone

The article reports that many existing and potential homeowners don’t qualify for record-low mortgage rates in the U.S. that have fallen below 4%.

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SAVERS LOSE, BORROWERS WIN

The article discusses interest rates in the U.S. Already low by historical standards, rates could move lower if the U.S. Federal Reserve acts to sell short-term U.S. government securities and buy long-term ones. Investment adviser Garth Scrivner recommends that young home purchasers take advantage of attractive rates on 30-year fixed mortgages.

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Mortgage rates at historic low

WASHINGTON — The average rate on the 30-year fixed mortgage fell to 3.94 percent in the United States this week, the lowest rate on record, the mortgage agency Freddie Mac reported Thursday. Freddie Mac says the average rate on a 30-year fixed-rate mortgage dropped from 4.01 percent last week, the previous low. The average rate on a 15-year fixed-rate loan dipped to 3.26 percent, also a record. [ABSTRACT FROM AUTHOR]

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Determining a Home’s Value

AGAIN and again, you hear about mortgage rates hitting historic lows; now you’re thinking it’s time to refinance. But one hitch may hold some homeowners back: declining property values. ”Homes have lost equity,” said Kathleen Bowen-Ha, the owner-broker and an appraiser for Global Keepers in Dobbs Ferry, N.Y. [ABSTRACT FROM AUTHOR]

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Three Ways to Cut Everyday Bills

The article offers three ways to lessen bills including lowering the rate on a home mortgage, finding a new telecommunications plan that includes wireless telephone, Internet, and a landline telephone, and using less fuel when heating a home. Information is provided on how much people usually overpay for these services.

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Rates get more transparent

The article presents several charts with interest rates for banks, credit cards, and home mortgages as per regulations which require lenders to automatically disclose to credit card and loan applicants who are rejected which credit score was used in the decision and why the decision was made.

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