mortgage rate: Could the proposal to lower mortgage rate to 4.5% help stop the slide in home prices?
- 12/07/08 02:17 AM
We all know that home values have continued to decline as a result of unprecedented foreclosure and short sale activities through out the country. These actions have also resulted in huge housing inventory. It is a fact that lower interest rates would substantially increase consumers' buying power. But the question to you Active Rain pundits is, Do you think that lowering mortgage rates from a near 50-year low of 5.5% down to 4.5% (1 full percentage point) will help spark a new surge in lending, sell more houses by luring many more potential homebuyers, clear existing backlog of housing inventory, stop the slide in … (10 comments)
mortgage rate: Rate Shopping- Not As Easy As You Think
- 06/19/08 08:59 AM
Rate shopping may not be as easy as having access to hundreds of internet-based mortgage companies and other sites like Bankrate.com. Many advertisers are known to make their rates look appealing but they don't always give you the whole picture or disclosure. The most common deception is to quote a rate with a very brief lock-in period. This is called "short pricing". If you don't have your complete documents in order within the designated timeframe, you lose the quoted rate. Likewise, "low ball pricing" ia a low rate that is not intended to be available to you when you decide to … (0 comments)
We all know that home values have continued to decline as a result of unprecedented foreclosure and short sale activities through out the country. These actions have also resulted in huge housing inventory. It is a fact that lower interest rates would substantially increase consumers' buying power. But the question to you Active Rain pundits is, Do you think that lowering mortgage rates from a near 50-year low of 5.5% down to 4.5% (1 full percentage point) will help spark a new surge in lending, sell more houses by luring many more potential homebuyers, clear existing backlog of housing inventory, stop the slide in … (10 comments)
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