RateWatch
Mortgage Market Update for the Week of 1/11/10
January 11, 2010 by Rob Spring · Leave a Comment
Market Snapshot:
This week, investors and traders are saying that the economy won’t gain as much momentum as they had previously estimated. So for now, low short term finance rates are expected to continue!
The Economic Agenda for this Week:
Tuesday
8:30 - Nov Trade Deficit (-$34.5B frm -$32.9B in Oct)
1:00 - $40B 3 yr note auction
Wednesday
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How To Reduce Your Mortgage
December 22, 2009 by Rob Spring · Leave a Comment
How to Reduce Your Mortgage
One Additional Mortgage Payment a Year
There’s a simple trick to significantly reduce the length of your mortgage and save you thousands of dollars. The trick is to make one extra mortgage payment a year and apply that payment toward your loan’s principal.
This is the method being used by “Bi-Weekly Mortgage Reduction [...]
Annually Reviewing Your Mortgage Plan
December 13, 2009 by Rob Spring · Leave a Comment
Give your mortgage an annual once over
If the last time you looked at your mortgage was when you closed on your loan, it’s time to take it out for an annual once over. New loan programs and opportunities to leverage your home equity can bring you lower mortgage payments and new investment opportunities.
Is a fixed [...]
Hybrid Loans: The Best of Both Worlds
December 8, 2009 by Rob Spring · Leave a Comment
The best of both worlds
Today homebuyers are in a unique position to combine the benefits of a fixed rate mortgage with the savings opportunities of an adjustable rate mortgage. With a hybrid loan (also called a fixed-period ARM or hybrid ARM) you get the best of both worlds.
A hybrid loan gives you a fixed rate [...]
Mortgage Rates: Fixed vs. ARM
December 8, 2009 by Rob Spring · Leave a Comment
What are the advantages of fixed rate versus adjustable rate loans?
With a fixed-rate loan, your monthly payment of principal and interest never change for the life of your loan. Your property taxes may go up (we almost said down, too!), and so might your homeowner’s insurance premium part of your monthly payment, but generally with [...]