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loan: Interest rates are at the lowest point since the 1940s. Jump off the fence and buy your dream home. - 10/13/11 10:32 AM
The big news last week is the extraordinarily low mortgage interest rates. And this time, the rates really are historic, the lowest since the 1940s. Combined with lower housing stock prices, this really is the best time ever to end your career as a house hunting fence sitter.
According to the latest word from Freddie Mac, the Primary Mortgage Market Survey shows the traditional 30-year fixed-rate mortgage averaging 3.94%. A year ago the average interest rate was 4.27%. A 15-year fixed-rate mortgage came in at an average of 3.26%. Last year, the rate was 3.72%.
Some potential buyers are still waiting … (1 comments)

loan: Short Sales? Sometimes not very short. Buyers should enter the process with lots of patience and an agent trained in short sale negotiations. - 09/27/11 10:36 AM
The term short sale has woven its way into the homebuyer lexicon during the past year. While not a foreclosure property, short sale homes have their own special financial issues that require a real estate agent who is trained in this type of sale.
What is a short sale? When a homeowner is in financial difficulty, can’t keep current on mortgage payments and may see a foreclosure in the near future, the owner and the lending institution decide to sell the home for less than owed on the mortgage.
Buyers are attracted to short sales hoping to score a property at … (0 comments)

loan: Home prices up, mortgages lower in metro region. Support preserving the mortgage interest tax deduction - 08/09/11 10:45 AM
What a difference a week makes! Even with Congress finally dealing with the debt ceiling issue for the time being, and then Standard & Poors downgrading the U.S. credit rating to A++, bright spots are popping up in the St. Louis metro housing market.
First, St. Louis is ranked number four in Clear Capital’s analysis of the 15 best performing housing markets for the last two quarters. Through July 2011, our area increased 12.5 percent in home prices. Clear Capital analyses loan data for mortgage and bank lenders.
Mortgage rates are following the overall trend of the economy, which dipped again … (0 comments)

 
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Grant Hickman, Saint Charles Real Estate Pro

Saint Charles, MO

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