U.S. mortgage rates same on Monday - 2006-03-07
The average rate on a 30-year U.S. mortgage with no upfront points was the same on Monday at 6-1/2 percent. The 30-year mortgage rate with one upfront point was stable at 6-1/4 percent. The 30-year mortgage rate with two upfront points was unchanged at 6 percent.
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Getting safely out of ARMs by refinance mortgage - 2006-03-07
As the real estate market slows down, sales pressure is higher for adjustable-rate mortgage borrowers to do a refinance mortgage into fixed-rate loans. Despite dropping real estate values, ads for teaser rates still abound. Some of the mortgage refinancing offers are not good deals. High pressure is coming from employees of some of the nation's biggest lenders.
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