Putting a Price on Lifestyle
Shopping for a house is as much a lifestyle decision as it is a financial one. After all, unless you're a professional real estate investor, you're not just buying a house-you're buying a home.
Sure, there are important financial matters to consider, such as mortgage rates, payments and resale values. But when deciding whether or not to make an offer, you also need to think about how that home will impact the quality of your life.
So, it's important not to let an attractive list price distract you from considering a home that has features that may be worth paying a little more for...
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| Loan Type |
Today Rates |
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| 30yr fixed mortgage |
6.30% |
| 15yr fixed mortgage |
6.01% |
| 30yr fixed jumbo mortgage |
6.53% |
| 5/1 jumbo ARM |
6.10% |
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Average mortgage rates.
Last updated 7/12/07 |
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Refinancing Adjustable Rate Mortgages
What to do with those Adjustable Rate Mortgages (ARM)? Many people opted for the lower payments of having an ARM when they purchased or last refinanced their homes. This saved money while the rate was low; however, with rates having gone up, it’s now going to cost a whole lot more. It is time now to consider refinancing into a new loan.
ARM’s definitely have their benefits and are the perfect mortgage solution for many homeowners. What will make the difference for you is to work with a broker who...
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