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Foreclosure trend may mask trouble
Most experts advise those who are worried about future loan rate fluctuations to choose fixed-rate loans when originating a home purchase, or to refinance into longer-term fixed rates on existing loans.
 
Mortgage rates edge higher
Keep in mind, however, that long-term rates are still below December's monthly average and continue to fuel the housing market. Last week, mortgage applications for home purchases were stronger than last December's average.
 
Buying a home: Four easy steps
A new year means a fresh start. And what better way to start anew in 2006 than by purchasing a new home?
 
Pilot program offers incentives to new teachers
Appraisals by Stonewood LLC will offer a two-thirds reduction in the standard appraisal fees used in conjunction with a new home purchase.
 

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.