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Increased Real Estate Mortgage Rates

Increased Real Estate Mortgage Rates

Mortgage Rates on the Rise!

            Average U.S. mortgage rates rose modestly this week, a move that makes home-buying a bit less affordable. Still, rates remain near historically low levels.

            Mortgage buyer Freddie Mac said Wednesday that the average rate on the 30-year loan increased to 4.29 percent from 4.22 percent last [...]

Insurance Rates Rise in Provincetown Due to Flood Law

Insurance Rates Rise in Provincetown Due to Flood Law

Flood Law Update- Provincetown

By December, David Lupone was spending so much time in Provincetown, he decided to buy a 325-square-foot condominium -- a former motel room -- as a weekend getaway.

             With a mortgage, it was affordable. Or at least it was until his flood insurance jumped from $600 annually to $5,062 almost

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Low Mortgage Rates Spell Bad News for Brokers

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As a result of the recovering economy and the Federal Reserve stimulus program that created an artificial cap, mortgage rates will inevitably rise. As this shift happens, homeowners who would usually consider selling their current homes to buy new homes actually hold onto them in order to keep their historically low mortgage rates, rather [...]

Mortgage Rates Are At Their Lowest In 3 Years

newton real estate, newton homes for sale, boston condos

Despite a rapid increase in home prices, mortgage rates have dropped to their lowest point in three years. As of Tuesday, the average rate for a 30-year conforming mortgage nationally was 3.6 percent, down 2 points from last week. This drop means a 6 percent increase in buying power.

There are disadvantages to lower mortgage rates however. Credit availability declines marginally as the rates decline. With a small margin, lenders become more risk averse so indicators of credit tightness like the average FICO scores have gone up as rates have gone down.

5 Mistakes to Avoid When Choosing a Mortgage

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For many people, a mortgage will be their largest monthly expense.  Most homebuyers fail to properly prepare or negotiate and end up paying much more for their loans than they need to. If you clicked on this article, you’re already on the right track. Here are 5 things to avoid when selecting a mortgage.