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Mortgage News for Tuesday - March 8, 2005

More Mortgage News
• Former mortgage company owners, real estate agents sentenced for wire fraud
• Start-Up Making a Home as a Mortgage Industry Leader Despite Drop In Mortgage Refinance Activity
• Women dominating savings, pension, and mortgage decisions
• LOCAL COMMENT: Protect mortgage borrowers
• U.S. mortgage rates fall Monday - BestInfo
• Create your own mortgage debt reduction
• Mortgage Phishing - The Grand Art of Hooking a Sucker
• China's Economy May Overshoot 8% Growth Target
• Mortgage giant Fannie Mae ordered to separate chairman, CEO
• Luxury Home Prices Rise 7.2%
Mortgage News
U.S. mortgage rates fall Monday - BestInfo - 2005-03-08
The average rate on a 30-year U.S. mortgage with no upfront points dropped 1/8 of a percentage point on Monday, to 5-3/4 percent, according to BestInfo Inc.

If the mortgage market on Tuesday continues in its present direction, rates may remain the same.

The 30-year mortgage rate with one upfront point fell 1/8 of a percentage point to 5-1/2 percent.
Read the full story at Reuters
 
Create your own mortgage debt reduction - 2005-03-08
The key to mortgage debt reduction is principal payments. The more you pay down the principal, the faster the loan will be paid off.

Note, I have not talked about simple interest. Increasing the number of payments you make on the same loan has virtually no impact on your debt, whatever the biweekly mortgage zealots out there claim.
Read the full story at Houston Chronicle
 






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