The number of applications for home purchases fell last week, perhaps in anticipation. However, refinances remained stable. Now that the Federal Reserve raised short-term interest rates, how will the market react and what does it think the new Fed Chief will do?
How much can you SAVE with today's crazy low mortgage rates? Find out now!
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What Are Pre-Payment Penalties?
Some borrowers find themselves in a situation where they have to pay off their mortgage earlier than originally expected. They're surprised to find that they have to pay what's known as a pre-payment penalty, which can be thousands of dollars. What is a pre-payment penalty and when do you have to pay it?
Low Long-Term Mortgage Rates Still Stimulate Housing
Long-term rates have dropped in the last few months which may encourage stronger sales in the near future. Though 2006 may not be quite as strong as last year, housing is still doing well and rates are still historically low.
New Home Construction Falls, But Market Is Still Doing Well
Despite the expected drop in new home construction, the housing market is still going strong. Find out why Quicken Loans Chief Economist Bob Walters warns not to look at this single number as an indication on the housing trend.
Homeowners Still Want Fixed Rates, Consolidations Expected
Homeowners are still taking advantage of long-term fixed rates to avoid the risk of adjusting rates, as shown by the rise in mortgage applications this week. More are expected to include debts accrued over the holidays with their refinancing.
Three Ways to Build Equity
Do you think that paying principal on your mortgage is the only way to build equity? Do you think that if you have an interest-only loan, you're not building equity? Think again. There are other ways to do this.
Six Tips to Get Out of Credit Card Debt
2006 is almost upon us and you've racked up a significant amount of credit card debt this year. But making the payments and getting out of debt is getting harder and harder. What can you do? We've got six valuable tips for you!
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