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Mortgage & Housing Market News from HSH.com
November 26th, 2008

Why Not Add a Mortgage to Your Black Friday Shopping List

by

 

With this week’s big rate drop — the conforming 30-year FRM dropped to 5.77% yesterday from 6.06% on Monday, the largest single-day drop since September 8 — now is a great time to run the numbers and see whether refinancing is for you. Be sure to use our Refinance Calculator, because it’s important to know the real costs — and potential savings — before making a move.

With this easy-to-use, interactive refinancing worksheet, consumers can see how their existing mortgage payments might change if they were to refinance, and, just as important, how long it would take to recover any closing costs associated with refinancing.

Check out the latest stats here. And for more information, read “Who’s Refinancing?” and “Refinance: Is It Right for You?”

The holiday season may be your best opportunity to lock in on a rate we haven’t seen in a long time.

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About the HSH Blog

HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

Our bloggers:

Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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