I try to not just post links with minimal commentary, but this tool is worth a look. I could play with this all day. I have to read about the methodology, and its hard to quantify the benefits of having your own yard for bonfires, and having whatever dog you want, but its still interesting.
The Shenehon Center for Real Estate at the University of St. Thomas recently released their Minnesota Housing report for the third quarter of 2005. Download it here. Here’s my quick summary and views. Read the rest of this entry »
Adjustable rates falling out of fashion
Adjustable-rate mortgages aren’t as common as they used to be, accounting for 28.8% of all mortgage applications, down from the peak of 36.6% in March 2005. This hopefully means:
Perhaps the most obvious reason for this though, is that according to Bankrate.com, the average interest rate of a fixed-rate 30 year mortgage is 6.15%, while a 5-year ARM’s average interest rate is 5.71%, a narrower gap than it used to be.
Making the leap to home ownership and trying to get the best mortgage rate available usually involves a flurry of activity. You may be scrimping and saving pennies to save money and pay off accounts. It is important to manage your credit wisely before you purchase.
Although I am no expert on credit, here are some of the suggestions I can provide. Read the rest of this entry »
