Wednesday, October 26, 2005

Todays Best Rates

Todays Best Rates

30 Yr Fixed 5.64% 0.65 5.81%
15 Yr Fixed 5.23% 0.65 5.50%
1 Yr ARM 4.18% 0.55 6.59%

Today's Mortgage Rate News
Mortgage lenders slightly hiked rates this morning. New Fed Chairman Ben Bernanke
appointed. The Fed to maintain its plans to raise interest rates at what some suspect
will be every meeting this year.

Todays Tips:Brokers will generally contact several lenders regarding your application, but they are not obligated to find the best deal for you unless they have contracted with you to act
as your agent. Consequently, you should consider contacting more than one broker, just as
you should with banks or thrift institutions.

Guide: Ask each lender and broker for a list of its current mortgage interest rates and
whether the rates being quoted are the lowest for that day or week.

Glossary: Loan origination fees are fees charged by the lender for processing the loan
and are often expressed as a percentage of the loan amount.

Need To reduce your mortgage payments? Need cash? Want to lower your debt? Secure your
financial decisions now while rate are low.Best deals: New home mortgage, long term fixed rate home refinancing and home equity loans.