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Mortgage News for Wednesday - March 2, 2005

More Mortgage News
• U.S. mortgage refinancing drops as rates rise
• Time to act in mortgage belt
• A Plan to Prepay the Mortgage Should Be a Defensive Position in Any Investment Portfolio, Says MIFSP
• U.S. mortgage rates unchanged Tuesday - BestInfo
• Smokers could save £40,000 on mortgage interest payments
• Man gets 20-month term for mortgage loan scam
• Fresh Pricks In Housing Bubble
• More plan to purchase a house
• Greenspan: U.S. Economy Sound, Spending Curbs Needed
• U.S. stocks fall on interest rate worries
Mortgage News
A Plan to Prepay the Mortgage Should Be a Defensive Position in Any Investment Portfolio, Says MIFSP - 2005-03-02
The Mortgage Institute For Financial Services Professionals (MIFSP) finds that the best course of action in any investment portfolio, for a person who has a mortgage, is a plan to prepay the mortgage.

MIFSP also recommends that disclosure of the guaranteed return and no-cost-no-risk nature of prepaying the mortgage should be a self-imposed ethics obligation for any financial services professional that sells investments or investment advice.
Read the full story at ArriveNet (press release)
 
U.S. mortgage rates unchanged Tuesday - BestInfo - 2005-03-02
The average rate on a 30-year U.S. mortgage with no upfront points was the same on Tuesday at 5-7/8 percent, according to BestInfo Inc.

If the mortgage market on Wednesday continues in its current direction, rates could go higher. The 30-year mortgage rate with one upfront point was unchanged at 5-5/8 percent.
Read the full story at Reuters
 






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