Is A Home Mortgage Refinance A Smart Idea?

With the various fluctuations in interest rates over the past few years, you have no doubt thought about whether or not refinancing your home is a good idea. Countless consumers have done so in the face of favorable interest rates over the past few years, but does that mean that it is always a good idea when interest rates dip? There are some key questions you need to ask yourself when contemplating a refinancing move for your piece of realestate.

Know Your Situation

When deciding on whether a future refinancing move will net you benefits, you must first examine what your present situation is like. That includes all of the factors that play into a loan arrangement, including how long you plan to stay in your home, the terms of your credit loan and the likelihood of getting a favorable interest rate on a new loan on your real estate...[more Mortgage Refinance]

The Pitfalls of Predatory Lending

Predatory lending is a term used to capture a whole slew of techniques used by lenders to ensure the most beneficial terms for the financing institution at the expense of borrowers. While there may be a preconceived notion of these practices affecting particular subsections of the population, predatory lending is something for everyone to watch out for when buying or selling at home.

Many of these types of predatory situations can be resolved by being vigilant and consulting a trusted realtor or related party that has a demonstrated consistent and reliable approach to the home buying process. There are a few steps you can take to ensure that your real estate transaction goes smoothly and therealtor/lending agency combination you choose is out for your best interests...[more Predatory Lending]

Mortgage Rates Fall For Second Consecutive Week According To Freddie Mac Weekly Survey

McLean, VA - Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 6.67 percent with an average 0.4 point for the week ending June 28, 2007, down from last week when it averaged 6.69 percent. Last year at this time, the 30-year FRM averaged 6.78 percent.

The 15-year FRM this week averaged 6.34 percent with an average 0.4 point, down from last week when it averaged 6.37 percent. A year ago, the 15-year FRM averaged 6.43 percent.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 6.30 percent this week, with an average 0.5 point, down from last week when it averaged 6.31 percent. A year ago, the 5-year ARM averaged 6.39 percent.

One-year Treasury-indexed ARMs averaged 5.65 percent this week with an average 0.5 point, down from last week when it averaged 5.66 percent. At this time last year, the 1-year ARM averaged 5.82 percent.