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October 25, 2013

Interest Rate Scare Passes (For Now)

Halloween Scream?  Not This Year After almost touching 5%(!) barely a month ago, interest rates on a 30-year mortgage for well-qualified borrowers have dropped almost a full point, to just above 4%. Jumbo loan rates are even lower. Chalk that up to 3 reasons:  1) the debt ceiling has been raised, however temporarily; 2) the...
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Low Appraisal Double Jeopardy

Sticking With the Bird in the Hand The reason that Buyers and Sellers typically renegotiate the price when a home appraises low is that the Seller has no guaranty that . . . it won’t happen again. Either with the same Buyer, and another lender. Or, if they scuttle the deal, with another Buyer and...
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Term Limits Redux?

“Throw the Bums Out!” “If banks are too big to fail . . . make ’em smaller.” –former Reagan Cabinet member George Schultz “If the government is too complicated to be run by anyone but career politicians . . . make it simpler.” –Ross Kaplan The last time the public was this fed up with...
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