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Today’s mortgage rates as low as 3.15 percent

March 17, 2011

Fear in the marketplace and good economic news combined this week to improve mortgage rates. Investors rushed to purchase safe securities in the wake of Japan’s tragedy. Fear in the marketplace causes investors to move their money into safe places. Mortgage Backed Securities (MSB) are considered very safe investments. When tradgedy strikes, it is often improves mortgage rates.  In [...]

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Falling consumer debt could be thwarted by rising food, gas prices

March 16, 2011

Although the Wall Street Journal reports that U.S. consumer debt (including mortgages) has fallen to the lowest levels since 2004, rising prices for gas, food and other necessities could cause consumers to fall back on credit cards. The effects of the earthquake and tsunamis in Japan could also impact the U.S. economy, but it’s too [...]

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Low mortgage rates and affordable homes cause spike in loan applications

March 12, 2011

The national average for 30-year fixed-rate mortgage rates remained below 5.0 percent again this week. Combined with record breaking home affordability, mortgage loan applications have spiked.
Here are the national average conforming mortgage rates for this week, according to the Freddie Mac Primary Mortgage Market Survey (PMMS):
30-year fixed-rate – 4.88 percent with 0.7 percent points
15-year fixed-rate [...]

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Credit card debt relief: And the good news is…

March 7, 2011

The Federal Reserve released data for January 2011 indicating that U.S. consumer credit card debt has fallen for the fourth consecutive month. Although consumer borrowing rose by 2.5 percent, credit card debt, also called revolving debt, dropped by 6.4 percent, or $4.2 billion. If you’re ready to clean up your financial bottom line, taking steps [...]

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Free mortgage quotes at rates of 3.23 percent and lower

March 5, 2011

It’s time to refinance your existing mortgage loans. Mortgage rates have hit new lows for the year. The most recent mortgage rate survey by Freddie Mac shows the national average for a 1-year fixed-rate, conforming loan amount at 3.23 percent with 0.6 percent points and 2.76 percent margin.
National averages for conforming loan amounts
As reported [...]

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