Mortgage and Real Estate News

Buyers looking to take out new financing or refinance their mortgage are still few and far between in the real estate market, as the crisis stemming from the subprime mess continues to slog on, dragging down the U.S. economy.
The Mortgage Bankers Association said in a report this week that the number of mortgage applications filed [...]

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Though much of the news in the mortgage market has been bleak as of late, with the mounting losses and foreclosures, and continuing fallout from the subprime-mortgage lending fiasco, the amount of application for new mortgage applications is on the rise as many try to refinance existing mortgages with lower rates or to get out [...]

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Okay, so foreclosure’s not exactly a four-letter word, but it’s definitely the most dreaded 11-letter F-word for homeowners.  Foreclosures are at record highs and that doesn’t mean you have to be a part the statics.  There are 3 common reasons homes end in foreclosure and here is how to avoid letting your home become one.
1. You [...]

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Is the Fed Rate Cut What the Housing Doctor Ordered?
Today, the U.S. Federal Reserve slashed the discount rate by 75 basis points down to 2.25%.  But how does the Fed rate cut affect you and your search for a new home?  Is the Fed rate cut the miracle elixir to cure the real estate market pain?
 
When the [...]

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Fed Rates Keep Falling on My Head:
What the Fed Rate Cuts Mean for Your Savings and Mortgage
CALABASAS, CALIFORNIA – Today, the Fed slashed the Fed funds rate by 50 basis points.  Like most things, dropping rates are a game of give and take; the lowering of Fed rates can be beneficial for some parts of [...]

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The Fed Cuts Rates Again: What You Should Do Now?
Today, the Fed decided to cut the Federal funds rate a whopping 75 basis points to a scant 3.5 percent, the lowest its been since August 2005 (Source: federalreserve.gov).  Although talks in the news and among policymakers have been centered around countering a potential recession, the [...]

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Everyone knows that the standard is to put 20% down when purchasing real estate.  But is this my best bet?  In making this choice, do the math and ask yourself the following 3 questions:
1.  How long do I plan on living in the home?
Depending on how long you intend on living in the house, you [...]

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‘Twas the night before Christmas and all through the house,
People like you were finding the best rates online with a mouse.
The stockings were hung by the chimney with care
And smart investors were online because best rates are found there.
We exchanged presents wrapped in green and red
While visions of great returns danced in our heads.
From home [...]

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It might not take an international secret agent like James Bond to get a great mortgage, but picking up a few pointers from the professionals doesn’t hurt either.
While most people look primarily for the best mortgage rate, an attractive mortgage is more than just the best rate.  Both lender’s fees and prepayment penalties can put thousands [...]

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