Most traditional agents offer MLS access…. (versailles condominiums)
Most traditional agents offer MLS access in their local markets.
Some Mortgage Rates Move Dramatically, Others Stall
The Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications
Survey for the week ended September 7 showed a dramatic drop in the 30-
year FRM, from 6.42 percent with 1.09 points (including the origination
fee) to 6.25 percent with 1 point.
Mortgage application volume increased…
Fed Slashes Interest Rates By 50 Basis Points
The Federal Reserve slashed benchmark interest rates
by a half point in an agressive move to prevent the economy from moving
into recession and to ease the pains of the housing bubble. The decision
to cut the overnight federal funds rate from 5.25% to 4.75% was
unanimous. This is the lowest level since May of 2006 and the first time
the Fed has cut interest rates since June 2003. It was the first 1/2
point cut since November of 2002.
Another Dramatic Downturn in Mortgage Rates
Even before the Federal Reserve’s
half point rate cut on Tuesday Freddie Mac’s Primary Mortgage Market
Survey showed another dramatic downturn in both long and
short term interest rates for conventional mortgages.
Like Home Equity Loans, Home Equity Lines of Credit have fees that may be charged for taking out the loan.
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