mortgages: Mortgage Rates Heading Lower in Charlotte North Carolina - 04/25/11 01:04 AM
Mortgage Rates Heading Lower in Charlotte NC
Long-term mortgage rates headed lower this past week after increases for the past four consecutive weeks.
The reason according to Frank Nothaft, Chief Economist for Freddie Mac - "Low inflation is keeping mortgage rates at ba.". "The 12-month growth rate in core prices was 1.2%, which is rather low by historical standards."
A 30 YR fixed-rate mortgage averaged 4.8% in the week ending April 21, down from 4.91%. A 15 YR fixed-rate mortgage averaged 4.02% which was down from 4.13% in the same period.
 
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mortgages: Want To Cut Your Mortgage Payment? Here’s A Little-Known Strategy That May Be Worth Looking Into - 01/13/11 12:03 PM
A recent article in The New York Times lays out a little-known strategy that can cut your mortgage payment.
The strategy, called "recasting" or "re-amortization" involves paying off a lump sum of the principal amount and then asking your lender to reset the monthly payments using the original interest rate and loan terms. The lump sum payment reduces the principal amount so your monthly payments would decrease somewhat, reducing the interest paid over the life of the loan.
Not all lenders or servicers will allow you to do this, but it may be worth making a phone call and looking into it. … (0 comments)

 
Scot Draper, Broker/Realtor, ABR CDPE CIAS (RE/MAX Executive Realty)

Scot Draper

Broker/Realtor, ABR CDPE CIAS

Charlotte, NC

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RE/MAX Executive Realty

Address: 2901 Coltsgate RD, Suite 100, Charlotte, NC, 28211

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