Once again, adjustable mortgages or ARMs are becoming a viable option for the right homeowner. For the same points and fees as a comparable fixed rate mortgage, a homeowner can obtain a rate that is over 1% lower than a 30 year fixed rate mortgage!
That means on a $200,000 mortgage, the homeowner can save $120/ month or $7200 over 5 years! ARMs can come in many forms and if structured properly, are not ...
The Home Affordable Loan Program went into effect recently and is offering opportunities for many homeowners who have seen their home values decline.
The program allows for homeowners to borrower up to 105% of the value of their home, and if their original mortgage did not have mortgage insurance, the new mortgage will also be free of mortgage insurance! If you have a second mortgage, your total loan-to-value ratio is unlimited!
I am currently seeking guest authors who are experts in the real estate or financial planning fields. If accepted as a guest author, you will receive a prominent backlink listing as a contributing author from the home page of this website, as well as the freedom to create backlinks within your blog posts to your websites.
If you are a real estate or financial planning professional and would like to join my blogging team, ...
Jumbo mortgage rates including Colorado Jumbo Rates are showing signs of life and are starting ease down. A jumbo mortgage is any mortgage that is above the conforming loan limit of $417,000, higher in some high-cost areas. There are more and more signs that credit is easing.
The problem over the past 18 months is that jumbo mortgages, not backed by Fannie Mae or Freddie Mac, were liabilities that banks had to hold ...
There have been many write-ups by the media recently about the proposed government intervention to drop fixed mortgage rates to 4.5%. 4.5% would be the lowest mortgage rates have been since the 1960's and would be sure to stoke the floundering housing market.
So what is the reason for this proposed rate reduction and is it for real? Mortgage rates today sit at the lowest levels we have seen in 2008, with 30 year ...
posted by RJ Baxter December 09, 2008 10:55 | permalink | comments(0) | Market CommentaryOctober, 2008 Stock Market Plunges but Mortgage Rates Go Up
The recent pummeling that the stock market has taken is disturbing in the least, and has hammered most everyone's investment portfolio. How low it will go has yet to be seen. However, with a downturn in the stock market, there is usually a silver lining- lower mortgage rates.
But we haven't seen lower mortgage rates when stocks take major downturns. Why is this?
To understand what's going on, first it's necessary to ...
Contrary to popular belief, when the Federal Reserve cuts short term interest rates, mortgage rates almost always go up. This doesn't seem to make sense, so as I sip my coffee this morning and digest the emergency 0.5% worldwide rate cut that happened early this morning, I thought it would be prudent to blog on this topic.
So why do rate cuts usually lead to higher mortgage rates? The reason is that rate cuts ...
The bailout of Fannie Mae and Freddie Mac over the weekend has sent rates plummeting in early trading. The trend is expected to continue and help return some liquidity to the frozen mortgage markets.
If you missed out on the refinance opportunity this past spring which saw 30 year fixed rates dip into the low-5%'s for a brief couple of days, now is the time to start thinking about it again!
