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Good Mortgage News!
Lowest Rates in 25 Months We couldn't have asked for a better Thanksgiving treat than the one we got on Monday: the lowest 30-year fixed-rate in over two years. That's right. For those of you who have been patiently waiting, here's your chance to save anywhere from $5,000 to $7,500 or even more on the mortgage financing you've been looking for. Do not miss this great opportunity to cash in on the lowest rates since October 2005.
Here's why you should act now:
Monday saw the lowest 30-year fixed interest rate in over two years. However, each time this interest rate reached previous low points, both last year and earlier this year, it began increasing and didn't stop, climbing over 0.50% in the months that followed! Fannie Mae and Freddie Mac tightened guidelines, announcing new Loan-Level Price Adjustments. In the first quarter of 2008, most borrowers who have good credit, but have FICO scores below 680, will now be forced either to pay more points at closing or incur a higher interest rate. The amount that a borrower could be forced to pay, even if they've never been late on a payment, could be as much as 2.00% in points or ... more
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