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Arm Articles

Posted on July 17   By Peter Andrew
American consumers are uniquely lucky when it comes to mortgages. A 2010 paper by Dr. Michael Lea of San Diego State University revealed that no other advanced nation offers so many long-term fixed-rate mortgages, and in many countries (including Australia, Ireland, Spain, and the UK) they don't exist at all. Why fixed-rate mortgages are great The advantages of long-term fixed-rate mortgages (FRMs) are obvious: You have absolute certainty that every monthly payment you make is going to be exactl.... Read More...
Posted on February 13   By MLP Blog
When you refinance your residential mortgage loan you can enjoy a variety of money saving benefits. This is because there are several alternatives to your current mortgage. Refinancing your home loan gives you a chance to review the terms of your current mortgage and choose terms that can help you save money in the long run — often thousands of dollars. Saving on interest If you refinance your residential mortgage loan to a lower rate, you can save thousands of dollars on interest alone. I.... Read More...
Posted on February 13   By MLP Blog
WASHINGTON — The heads of Fannie Mae and Freddie Mac said today the mortgage finance giants are developing new types of loans to help distressed borrowers with high-risk mortgages keep their homes at a time of rising foreclosures. The moves by the two government-sponsored companies, the biggest buyers and guarantors of home mortgages in the country, came in response to the turmoil in the market for so-called subprime mortgages, higher-priced loans for people with tarnished credit or low in.... Read More...
Posted on February 13   By MLP Blog
Subprime mortgages are available to consumers with damaged credit or little borrowing experience. The loans typically carry a higher interest rate or terms that raise their costs above so-called prime loans. Subprime default rates have been on the rise and more than two dozen lenders have failed or quit the business in the last year. Following are details on the U.S. subprime mortgage market: – Subprime loans grew to 13.6 percent of the total mortgage market last year from 2.4 percent in 2.... Read More...
Posted on February 13   By MLP Blog
You’ll likely face many major decisions to make when you’re ready to take the homeownership plunge, not the least of which is choosing the right kind of mortgage for your needs. Mortgage options used to be fairly limited, but in recent years new varieties have abounded. Here are some of the more common types: Fixed-rate mortgage. You make the same monthly payment throughout the term of your loan, usually 15, 30 or even 40 years. Shorter-term mortgages offer lower interest rates but h.... Read More...
Posted on February 13   By MLP Blog
It was just what the mortgage doctor ordered, or so Renee Schwengel thought. What it turned into was a financial nightmare that could cost her family its home. To free up a little cash every month, Schwengel and her husband were looking to lower the monthly mortgage payment on the four-bedroom, Aurora, Co., home they shared with their two children. The couple had been in an interest-only loan paying a mortgage of $1,600 each month. They heard about a loan with low interest rates on the radio and.... Read More...
Posted on February 13   By MLP Blog
WASHINGTON — Rates on 30-year mortgages fell this week to the lowest level in six weeks. The mortgage company Freddie Mac reported on Thursday that 30-year, fixed-rate mortgages averaged 6.22 percent this week compared with 6.30 percent last week. The decline was only the second since early December. It pushed rates to the lowest level since the 30-year mortgage was at 6.21 percent the week of Jan. 11. Analysts said the drop reflected in part weakness in the housing industry, shown by a 14.... Read More...
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