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Mortgage News for Wednesday - May 4, 2005

More Mortgage News
• Real estate purchases and refinance mortgage activity hold steady
• Westpac chases mortgage market
• Pay off mortgage or invest? The math tells the story
• With Adjustable-Rate Mortgage and Home-Equity Rates on the Rise, York County Federal Credit Union Responds w/Free Mortgage Consultations
• Mortgage approvals on the rise, but so are costs
• U.S. mortgage rates unchanged Tuesday-BestInfo
• U.S. Economy: Services sector soggy, housing firm
• Homes: U.K. went cold; U.S. could too
• Home affordability index up in 1st qtr
• County's real estate market surges forward
Mortgage News
Pay off mortgage or invest? The math tells the story - 2005-05-04
Two weeks ago a reader, D.J., sent a good question. The sale of a recently inherited house would bring enough money to pay off the mortgage on his home.

His question: Should he pay off the mortgage or put the money in investments? D.J., looking backward, was thinking the Vanguard Wellington fund would be a good choice. Given perfect hindsight, it would have been. With $100,000 to invest or pay off his mortgage.
Read the full story at Houston Chronicle
 
With Adjustable-Rate Mortgage and Home-Equity Rates on the Rise, York County Federal Credit Union Responds w/Free Mortgage Consultations - 2005-05-04
York County Federal Credit Union, with offices in Saco, Sanford and York, is making available free mortgage consultations to homeowners in need of a little assistance sorting out the best mortgage options for their budgets.

Through May 27, 2005, each branch will have mortgage specialists accessible Monday-Friday until 8pm for customized, free consultations. In addition to expert advice on all mortgage products, approved applicants will receive $150 off closings costs and a free home appraisal.
Read the full story at MaineToday.com
 






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