Previously, I’ve written about subprime mortgage loans, as they relate to the current spike in home foreclosures we are seeing. I even posted a tutorial over at Home Buying Institute to explain the subprime mortgage in greater detail.
Now it seems that subprime lending will  be a thing of the past for some major lenders.
A recent [...]

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According to a new article on MarketWatch, the average interest rate on a fixed-rate mortgage has risen to 6.73% (over 6.63% of last week). The article cites good employment numbers from June and credit growth as two possible causes for the rise in mortgage rates.
Article excerpt:
The 30-year fixed-rate mortgage averaged 6.73% for the week [...]

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