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Nov 16

Government Releases Additional HARP Guidance For Underwater Homeowners

Tuesday, Fannie Mae and Freddie Mac unveiled lender instructions for the government's revamped HARP program, kick-starting a potential refinance frenzy across District of Columbia and nationwide. HARP stands for Home Affordable Refinance Program. The updated program is meant to give "underwater homeowners" an opportunity to refinance at today's low mortgage rates. In the two-plus years since its launch, HARP's first iteration helped fewer than 900,000 homeowners. HARP II, by contrast, is … [Read more...]

Nov 09

This Holiday Season, Think Twice Before Saving 15 Percent At The Register

With Halloween behind us, retailers are in the Holiday Spirit. Businesses know that consumers spent a median $556 on holiday gifts last year and they want this year to be just as strong. That's why it's barely November and, already, Black Friday ads clog our mailboxes and the airwaves. Retailers want our dollars and they're offering great deals to early shoppers. There's one discount a smart shopper should think twice, however -- the ever-present "Open A Charge Card Today And Save 15%" … [Read more...]

Jul 01

5-Year ARM Falls To Historic Lows

The interest rate differential between fixed-rate and adjustable-rate mortgages continues to widen and has now reached historic levels. There's never been a better time to lock an ARM. According to Freddie Mac's weekly Primary Mortgage Market Survey, homeowners in DC who lock their mortgage rate today will save 129 basis points on rate, on average, by choosing a 5-year ARM as their mortgage product as compared to a 30-year fixed rate loan. The average 30-year fixed rate is 4.51%. The … [Read more...]