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3 News Stories Every Homeowner Should Know
 
During tough financial times, news is king. A simple announcement from the media can instantly send the financial and mortgage markets racing in either direction. As the financial markets continue to adjust to the credit crisis, current and potential homeowners will have to adjust and react immediately as well. With this in mind, lets explore the top three news stories that affect both current and potential homeowners looking to make the most of today's buyers' market.
Headline #1: Mortgage Rates Plummet Thanks to the FedIn late November, an announcement that the Federal Reserve and US Treasury would purchase up to $600 billion in asset-backed securities over the next year or so sent mortgage rates on many programs plunging below 6%. This is a bold step by our federal regulators towards a more stable economy. Not only will this increase the availability of credit, but it should help support the housing and financial markets as well. For new buyers and for homeowners looking to refinance, this is great news - especially borrowers with adjustable-rate mortgages.
Current Homeowners - those who have been on the fence about refinancing should investigate their options quickly. Remember, interest rates are incredibly volatile and extremely susceptible to ... more

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