2005 still great time to buy.Last year, mortgage rates closed at their second-lowest level ever--and the good news is they're they're Contraction of they are. they're be still at historic lows. The 30-year fixed averaged 5.84% in 2004 even as the Fed raised its target borrowing rate five times. And although the Fed is expected to continue to pursue its "measured pace" rate-hiking strategy this year, the past six months have provided more than enough proof that long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. mortgage rates do not always move in tandem Adv. 1. in tandem - one behind the other; "ride tandem on a bicycle built for two"; "riding horses down the path in tandem" tandem with the Fed's target borrowing rates. Tame inflation, worries about skyrocketing energy prices and inconsistent growth in the job market have helped keep long-term mortgages low. With real estate expected to outperform Outperform An analyst recommendation meaning a stock is expected to do slightly better than the market return. Notes: Exact definitions vary by brokerage, but in general this rating is better than neutral and worse than buy or strong buy. the stock market, now is STILL a great time to buy. If you're you're Contraction of you are. you're you are you're be concerned about your monthly payments but don't want to let today's attractive fixed-rates pass you by, you should consider the 30-year fixed with an Interest Only option. You pay Interest Only for the first 10 years and then your unpaid balance is paid over the remaining 20--but your interest rate doesn't change! Perhaps your income fluctuates throughout the year because of bonuses or commissions ... or you simply want to stretch your homebuying power and qualify for "more house". This product will fit the bill. Most lenders will even allow you to make voluntary payments on your principal during the Interest Only period. So if you land that important deal--and get a huge commission one month--you can apply it directly to the principal, reducing your balance for the following month and driving your monthly mortgage payment even lower! MELISSA COHN Cohn , Ferdinand Julius 1828-1898. German botanist considered the founder of bacteriology. The first to recognize bacteria as plants, he proposed a classification system for bacteria based on genus and species. , PRESIDENT/CEO, MANHATTAN MORTGAGE COMPANY |
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