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Long Term Mortgage Rates Fall:

Shared by Niicss on Fri May 23, 2008 5:08 am

According to Freddie Mac's weekly survey rates the long term mortgage has fell slightly compared to previous week. According to the survey
30 year fixed rate mortgage dropped to 5.98 percent from 6.01 percent. 15 year fixed rate mortgage dropped to 5.55 percent this week
which was 5.60 last week. However rates on Adjustable Rate Mortgage have increased slightly compared to previous week.

Source: http://www.marketwatch.com/news/story/long-term-mortgage-rates-fall-arms/story.aspx?guid=%7B5086A8EB-3E6E-44F4-99E3-B615AC1668B5%7D&dist=msr_1
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Community Members Opinion
Mini Profile  larry

Joined: 27 Jun 2007


Posts: 3328


473.51 Dollars($)

PostPosted: Sat May 24, 2008 2:06 am    Post subject:

Hi Niicss ,

The interest rates are falling. Property value is decreasing. But still people are afraid to take home-loans because of this crunched market.

BTW it is a good time to refinance and turn the ARM into FRM.

Best of luck,
Larry
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