mortgage interest rate

Financing Addendum: “Buyer Shall Apply For and Secure a Mortgage With an Initial Interest Rate of [ _________ ]”

Traps for the Unwary in an Environment of Rising Interest Rates In the vast majority of Financing Addenda I’ve seen — along with the Inspection Contingency, the two critical Addenda in a Purchase Agreement — the Buyer’s agent fills in the blank above with the word “market.” When rates are stable or falling . . . no problem....
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Cheap Money! or “A Call to ARM’s?”

Jumbo Mortgages for 4.75% The Federal Reserve anticipates that very low interest rates will be needed for an extended period. –Fed Reserve Chairman Ben Bernanke Mortgage interest rates have been so low for so long (2 years?  5 years?) that it’s no longer perceived as “new news” — but actually, it is. Namely, jumbo mortgages (over...
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