tag:blogger.com,1999:blog-29392155754817538282011-04-21T10:40:35.772-07:00Gwendolynhttp://www.blogger.com/profile/00620423717826635288noreply@blogger.comBlogger21100tag:blogger.com,1999:blog-2939215575481753828.post-69126720446700412292009-01-01T23:26:00.000-08:002009-01-01T23:26:39.854-08:00<a href="http://blogs.forbes.com/digitalrules/">Forbes.com: Digital Rules By Rich Karlgaard</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/2939215575481753828-6912672044670041229?l=gwendolyn-businessnews.blogspot.com' alt='' /></div>Gwendolynhttp://www.blogger.com/profile/00620423717826635288noreply@blogger.com0tag:blogger.com,1999:blog-2939215575481753828.post-61967035703575087492009-01-01T23:13:00.000-08:002009-01-01T23:15:55.738-08:00Mortgages: What You Need to Know in 2009<br />Mortgage rates are at historic lows and may be poised to go even lower next year. It's a great time to buy a home—if you can<br />By <a href="http://www.businessweek.com/bios/Peter_Coy.htm">Peter Coy</a><br />Related Items<br /><a href="http://www.businessweek.com/lifestyle/content/dec2008/bw20081223_927689.htm">2009 Real Estate Forecast: Troubles Spread</a><br />With all the <a href="http://bx.businessweek.com/mortgage-crisis/" rel="topic">doom and gloom over housing</a>, you might be surprised to know that this is a fantastic time to get a mortgage. Not if you have poor credit, to be sure. But you can get a great deal on a 30-year, fixed-rate, conforming loan these days if you have a solid FICO score, a manageable debt burden, and proof positive of a reliable income.<br />You have to go back to around 1961 to find a time when 30-year mortgages had rates this low, according to Keith Gumbinger, a vice-president at financial publisher HSH Associates in Pompton Plains, N.J. For that, thank the U.S. government, which is trying to jump-start the stalled housing market by buying up mortgage-backed securities. On Dec. 31, Freddie Mac reported that average rates on 30-year fixed mortgages dropped to 5.1% for the week, down about 1.3 percentage points since late October and the lowest since its survey began in 1971.<br />Rates are probably headed even lower in 2009, raising the question of whether you should borrow now or wait for a better deal. The experts are sharply divided over this one. Put it this way: If you're a gambler, wait. If you can't sleep at night worrying that rates will go up from here, borrow now.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/2939215575481753828-6196703570357508749?l=gwendolyn-businessnews.blogspot.com' alt='' /></div>Gwendolynhttp://www.blogger.com/profile/00620423717826635288noreply@blogger.com0