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Tag Archives: mortgage

Mortgage Rates Plunge

28-Nov-08

On Tuesday morning the Federal Reserve and Federal Home Loan Banks announced that they would purchase up to $600 billion in Mortgage-Backed Securities (MBS).  The exciting part of this announcement, is that it sent mortgage interest rates down to near the lows for the year.  With the bond market now closed for the week, three [...]

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Lower payments, afford a larger home, what is the mortgage payment you qualify for? First pay off your other debt.

18-Oct-08

When I am getting my clients approved for a mortgage, the most common question is how much can we afford?  And when I am looking at the debt ratios, I see that credit card payments are eating in to that number.  Along with car payments, student loans, and other debts that financed their toys.
While I [...]

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