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Sally Said:

What caused the home mortgage rates to sky rocket, causing people being unable to pay their monthly mortgages?

We Answered:

barney frank,chris dodd,ACORN,and all other democrats forcing banks to give loans to PEOPLE WHO COULD NEVER PAY THEM BACK..

Carla Said:

Difference in rates between home mortgage and real estate investor mortgage?

We Answered:

Usually its 1.5% to the YSP (yield spread premium). Lenders pay the brokers a fee to do the loan, this is in addition to what a broker charges you. So lets say the lender wants to make 1.5% in YSP. So they look at rates and say okay today 4.75 is 1.5% (paying) that would be for a primary residence. Then you have an add on fee. So the add on fee for an investor is 1.5%. So at 4.75 the broker isnt getting a dime. So they look at 4.875. It pays 2.00%, now the broker is making 0.5% and they want 1.5% So they look at 5.125% and that pays 2.5%... They still have to pay the hit for the investor of 1.5%, so now the broker makes 1%. Some brokers might do it others might say okay what is 5.5% and that pays back 3%. Now the broker can cover the 1.5% hit they take on the YSP and still make 1.5% from the bank.

I made up these rates and wasnt looking at a rate sheet but the process is the same. The difference is 1.5% to the YSP which will change the rate. You can pay it upfront and get a better rate or have the lender/broker change it for you in how they get paid.

On top of that down payment will be higher. Plan on 20%. Fannie and Freddie Mac allow for a 10% down payment but require mortgage insurance. I do not know of any mortgage insurance company that will give mortgage insurance to an investor. So plan on 20% down so you dont have to have mortgage insurance.

Martin Said:

Will fixed home mortgage rates lower again by January 2008?

We Answered:

You can get 5.99% on a 30 year fixed for 0 points today.

Of course, this depends on a few factors you didn't provide - credit, income, assets, loan-to-value, debt-to-income ratio. No one can predict where rates will be in January, but below 6% is available today!

Included a website for you.

Charles Said:

Looking to find lowest refinance home mortgage rates?

We Answered:

You can actually get a better mortgage rate – without refinancing. There is a website which allows you to check for free if there is a better rate available with your current lender.

You can avoid the costs and all the paperwork and hassle associated with refinancing. Your bank won’t tell you that there is a better rate available with them, but there usually is.

Check for a lower rate here free:

http://www.checkmyrate.com.au

Ivan Said:

Obama encouraging people to buy homes at new low mortgage rates?

We Answered:

ahh, I see you saw, it's obviously an attempt to get money flowing again between banks.

Those who have lost their jobs and/or been foreclosed need not apply.