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Is it Ethical to Re-Lock your Mortgage Deal when Rates Drop?

With mortgage rates hitting record lows last week following the news that the Fed would buy up to $300 Billion in Treasury securities on the open market, there was a mad rush to lock in the best rates and inevitably, there was a fair amount of “mortgage envy” on behalf of borrowers who had recently locked.  […]

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Mortgage Rates Dropping to Record Low – Time to Refinance?

Mortgage rates dropped again last week to below 5% for conventional 30 year mortgages and will possibly break the recent record set in January when mortgage rates briefly dipped below 5% and then popped back up again.  Fifteen year mortgages averaged 4.61% last week, down from 4.64% the week before.  Based on recent market conditions and […]

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Net Present Value: Why You Should Use it in Everyday Life

I was working on a Refinance this week and was confronted with various options: Different rate/point combinations, different lender fees, etc., and this got me thinking – I should just build a Net Present Value model to see which loan offered me the “best deal”.  Without objectively assessing all the cash flows in and out, […]

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Lowest Mortgage Refinance Rate Comparison by the Readers!

After perusing the web for the best mortgage refinance deal out there, it’s evident that the rates, points and fees required by different lending outfits are all over the map.  Even worse, in corresponding with some loan officers on a refinance that I’m considering, I’ve found the practices to be rather deceptive (didn’t we learn […]

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