Word: mortgagee
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The fundamentals are good: 3% economic growth, with the lowest inflation and unemployment rates and nearly the lowest mortgage rate in a generation. Only 10% of voters now rate the economy as a big concern. Lots of new hospitals and doctors' offices are being built, and people generally praise their...
Coming from a profession where opinions are constantly and loudly expressed, Wynhausen at times can't curb her outrage at the way she and her colleagues are treated. Her co-workers urge her to be careful, for fear that she'll lose shifts or even her job. As Wynhausen admits...
Long-term, fixed-rate mortgages have become increasingly affordable compared with adjustable-rate mortgages (ARMs) and home-equity lines of credit (HELOCs), and that spells opportunity for homeowners. Since June, the Federal Reserve has hiked short-term interest rates six times, and typically long-term rates follow. But the current...
For borrowers nervous about struggling to make mortgage payments in a rising-rate environment, locking in a fixed rate seems like the right move. Says Chris Larsen, chairman of E-Loan: "We're seeing a migration to the longer-term, more conservative 30-year products."
If you're in a short-term ARM or a new homebuyer, consider locking in a longer-term fixed rate for the period of time you plan to own your home. "Depending on your situation, that may mean a 30-year fixed or a seven-year ARM," says McBride. The...