Freddie Mac reported that 30-year fixed rates dropped below 5% for the first time since it began recording averages in 1970. But what’s after the headline? Again, the media doesn’t address the second issue — the costs — until the end (and then not fully!). Ed talks about what these costs meant in analyzing a refinance for one of his clients.

Fed MBS Purchasing Report: http://www.newyorkfed.org/markets/mbs/index.html

Chicago Tribune Article ‘Fixed-mortgage rates fall below 5%’:

http://www.chicagotribune.com/business/chi-biz-mortgage-rates-below-5-percent-jan15,0,7714045.story

Bankrate.com Mortgage Closing Costs: State Rankings:  http://www.bankrate.com/brm/news/mortgages/2008/closing_costs_ranking.asp?caret=3

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2 Responses to What's Missing Behind the 'Rate' Headlines?

  1. Don Hankins says:

    Ed,

    Your podcast is very infomative….”Father Don”

  2. Ed says:

    Thanks Don. Glad you like them and find them helpful!

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