30-Year Loan Rates Edge Up to 5.87% - 2004-01-10
Mortgage rates inched up again this week, with the 30-year rate hitting the highest level in nearly a month.

The average rate on 30-year mortgages was 5.87 percent, up from 5.85 percent last week, Freddie Mac said Thursday in its weekly nationwide survey of rates. It was the highest level since Dec. 12, when the rate was at 5.88 percent.
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For Homeowners, Lucrative Tax Benefits Depend on Interpretation of 'Principal Residence' - 2004-01-10
If you own your own home, our tax laws provide you with two important tax benefits: You can deduct your real estate taxes as well as the interest you pay on your mortgage while you own your house; then, after you sell the house, if you meet certain technical requirements, a sizable amount of your profit is tax-free.

To qualify for these tax benefits, however, the home in which you live must be your legal, principal residence.
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