mortgage financing: Mortgage Rates are on the Upswing - 04/11/10 08:53 AM
Mortgage Rates are on the Upswing
As predicted, interest rates are starting to climb.
Resulting from an improving economy and the end of the government's program to keep rates low, the interest rate on a 30-year, fixed-rate mortgage was 5.21 percent. This was up from 5.08 percent just last week. This is the highest it has been since the middle of August when it was at 5.29 percent.
This is good news-bad news, of course. If interest rates are climbing then it stands to reason that sentiment about the economy is improving. As a matter of fact, investors have been feeling … (5 comments)
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mortgage financing: Jumbo Loans are Back in Play for Massachusetts Home Buyers - 09/19/09 08:20 PM
For home buyers in the Greater Boston, Massachusetts area a jumbo loan means one that exceeds $523,750. Over the past two years, rates on these loans have skyrocketed, effectively putting a damper on this end of the real estate market.
Home buyers with large mortgages are now getting some relief from huge monthly payments as rates on jumbo loans have started to fall. As lenders have decided that it is now safe to reenter the upscale housing market, rates have fallen to around 6 percent. This narrows the gap between conventional loans and jumbos to 1 percentage point.
Housing prices in Greater … (3 comments)
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