Inman News
Today's Top Real Estate News
Provided by Inman News Features
July 06, 2008 11:00 AM


Dead landscaping to cost landlord thousands
Can security deposit be raided to fix damage?

Elderly couple urged to rethink real estate title
If title isn't fixed, offspring see inheritance trouble

Family challenges 'cure or quit' notice
Rent it Right

Person-to-person loan last hope after bankruptcy
Foreclosure makes it difficult for many to get financing

TIC with best friend: good or bad idea?
REThink Real Estate

Do 1980s ceilings contain asbestos?
Doctor's strict advice to home buyers not shared by all

Sellers hate stigma that comes with re-listing
How long until days on market resets?

Flooded crawlspace demands action
Property likely needs French drains, sump pump or foundation vents

Synthetic stucco gets bad rap
Is $140,000 replacement cost worth the trouble?

Is buying a home to live in a good investment?
Despite benefits, price appreciation not guaranteed in today's market

Condo foreclosed but HOA fees keep coming
Who's responsible for unpaid assessments?

Some remodels endure endless inspections
What building officials look for during site visits

Living room partition's a deal-breaker
Can buyer back out of purchase after learning bedroom's true identity?

Why can't mom have live-in assistant?
Rent it Right

Not Too Late to Refinance, But Do it Carefully

(November 7, 2005) --   Mortgage rates are starting to rise, and borrowers facing an interest-rate adjustment in the near future might want to think about refinancing.

A borrower with a $200,000 interest-only mortgage at 5.25 percent would pay $875 per month, but a 1.25-percent increase in the rate to 6.5 percent would send the monthly payment to $1,083.

Borrowers who plan to stay in their homes for some time should consider taking out a fixed-rate 30-year mortgage. But if they've lived in their home for some time, they should look into a 15-year fixed-rate mortgage, which will have a slightly higher payment but will save them money over the long-term.

The credit union, bank, or financial institution that holds the mortgage is a good place to look to refinance, as well as a mortgage broker who can provide quotes from different lenders.

Source: Chicago Sun-Times (11/07/05); Savage, Terry

Today's Rates:

Mtg Loan    Rate  APR
30-yr Fixed6.35%6.56%
15-yr Fixed5.92%6.23%
1-yr Adj5.17%6.42%
* national averages





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