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MBA
Mortgage
Rates Update
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JuL 7th 2008
Mortgage Bankers Assoc
Weekly Rate Survey
The MBA weekly survey
of interest rates shows
the average contract rate
for 30-year fixed rate
mortgages decreased to
6.22 percent from 6.43
per-cent one week earlier
on 80 percent LTV loans.
The average contract rate
for a 15-year fixed-rate
mortgage decreased to 5.74
percent from 5.94 percent
one week before for
80 percent LTV loans.
The average contract
interest rate for one-year
ARMs increased to 7.16
percent from 7.24 percent
one week earlier for 80
percent LTV adjustable
rate loans.
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Mortgage
Rates Reports
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Keep an eye on interest
rates with these MBAA
weekly updates.
We can almost always
do much better than the
averages shown above.
You may also determine
how much home you can
afford using our easy-to-use
home-finance calculator:
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Mortgage Rate
'Lock' or 'Float'
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Locking the rate means
that the lender commits
to the mortgage loan
interest rate, typically
at time the application
is submitted. This may
be for a short period
prior to closing or for an
an even longer period of
up to 60-days or more.
By choosing to 'float the
rate" you can lock the
interest rate anytime
between loan application
date and day of closing.
Buyers may opt to float
the loan when they
believe that interest
rates will drop after
their loan application
date, prior to closing.
The risk, of course, is
rather than dropping,
interest rates may rise,
thereby increasing the
mortgage re-payments.
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30-YEAR
FIXED RATE
$200,000 Loan
for $1,167 per month! |
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The PALM BEACHES South Florida Mortgage™
___________________________________________
Always finding ways to say YES !
________________________________
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________________________
Tel: (954) 972- 3500 Email: MyFloridaMtg@aol.com
Office: 2754 W. Atlantic Blvd, Suite # 11, Pompano Beach, Fl 33069
__________________________________
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Finding Solutions to Your Florida Homebuyer Dreams!
Some great reasons for getting your home-
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The PALM BEACHESSouth Florida Realty™
____________________
5-YEAR
FIXED RATE
Low Payment!
Security of Fixed Rate with
Low Fixed Monthly Payments!
____________________
The PALM BEACHESSouth Florida Mortgage™ |
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The PALM BEACHESSouth Florida Realty™
____________________
30-YEAR
FIXED RATE
$200,000 Loan
for $1,186 per month!
____________________
The PALM BEACHESSouth Florida Mortgage™ |
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