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Mortgage News for Tuesday - March 22, 2005

More Mortgage News
• Clinic to help consumers thwart predatory mortgage lenders
• Interest rate losers and winners
• Buying the perfect vacation home
• Overnight real estate rates flat
• The 'housing bubble'
• Consumer Alert: Mortgage hype
• U.S. Economy not yet losing steam from fuel prices
• Rice Praises Growing Chinese Economy
• Fed Raises Interest Rate to 2.75 Percent
• Inexpensive real estate spurs growth along busy corridor
Mortgage News
Buying the perfect vacation home - 2005-03-22
Owning a vacation home is no longer an impossible dream, but there are some steps that must be taken to stop the dream from becoming a financial nightmare.

If you intend to rent your vacation home, peg the rent 10 percent to 20 percent higher than your monthly mortgage payment in order to cover costs. For starters, you'll have to hire someone to maintain the property in your absence, and unexpected repairs are a given.
Read the full story at MSNBC
 
Overnight real estate rates flat - 2005-03-22
Long-term mortgage interest rates were mostly the same Monday, and the benchmark 10-year Treasury bond yield climbed to 4.52 percent.

The 30-year fixed-rate average kept at 5.52 percent, and the 15-year fixed-rate increased slightly to 5.1 percent. The 1-year adjustable was up at 3.82 percent.
The 30-year Treasury bond yield increased to 4.83 percent.
Read the full story at Inman.com
 






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