Time to lock in mortgage rates?

Jan 5, 2012
I bought a condo in Bozeman, Mont., 7 years ago using a 5/1 ARM. When the 5-year period ended, I let it roll over into a 1-year ARM because the rate went down from 4.5 to 3.25. Then, last year, I did the same -- only from 3.25 to 3 percent. Come March, the 1-year period will expire again and I wonder if I should let this happen again, since rates will probably be low. Or should I bite the bullet, pay approximately $2,500 in closing costs to lock in a low rate for 15 or 30 years, but make higher payments? (My payments are ridiculously low.) Cindy, West Yellowstone, MT
Posted In: home, mortgage, refinance, construction

Mortgage lenders foot bill for payroll cut extension

Dec 23, 2011
Mortgage lenders will pay higher fees to Fannie and Freddie to guarantee their loans. That pays for the extension of the payroll tax cut.
Posted In: mortgage, payroll tax

When to get aggressive with the mortgage paydown

Dec 15, 2011
My question is, if your mortgage rate is higher than what you could expect from investing, wouldn't it make more sense to pay on the mortgage? This is almost the same as the concept of paying off the credit card with the highest rate first. What are your thoughts on this? John, Rapid City, SD
Posted In: mortgage, home, Savings, Investing

Checking in on the Bond Market

Dec 15, 2011
Lots of not-so-terrible news was enough to put markets in positive territory today, but not by much. It gives us a chance to take a step back and talk about something different. Bonds.
Posted In: bonds, mortgage

Stick with low risk

Nov 21, 2011
Our primary aim is to have a deposit for a house in 3 years. We have saved a reasonable sum of money but did not want it to linger in a current or savings account for 0.75%. We are deciding either investing at low risk or paying off mortgage. We have to sell our current house to buy a new house. My mortgage rate is 4.99%, so after tax rebate it is about 3.99%. Most investing opportunities are giving us about 2% at low risk and 3-5% at medium risk. After tax one would have to take another 1.25% off the return. We would like some advice. Thanks, Tom and Anne, Boston, MA
Posted In: mortgage, home, Savings

A mortgage conundrum

Nov 15, 2011
A question about mortgage refinancing.
Posted In: mortgage, refinance, Savings

Pay off mortgage -- or wait?

Nov 14, 2011
A question about when to pay off your mortgage.
Posted In: mortgage, Getting Personal

Can't pay your mortgage? Get your house painted as a billboard

Apr 6, 2011
If you're looking for a sure way to alienate your neighbors, a fledgling advertising firm based in Southern California just launched this...
Posted In: advertising, mortgage

MID-DAY UPDATE: Obama defends efforts in Libya, home prices continue to decline

Mar 29, 2011
Here are the latest headlines from the Marketplace Morning Report and around the web....
Posted In: case shiller, gas, gas prices, homes, houses, housing market, mid-day update, mortgage, mortgage modifications, mortgage rates, Toyota

MID-DAY UPDATE: Egypt stock markets reopen, more water warnings in Tokyo

Mar 23, 2011
Tokyo health officials said today radiation levels are higher in the water supply there. Those officials are recommending people not give tap wat...
Posted In: billion, earthquake, Egypt, General Mills, Japan, mid-day update, mortgage, radiation, stocks, Tokyo, Toyota, tsunami, water