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How To Re-Finance
With An Eye Toward Future Rates
Just
when you thought it was safe to go on about your business
and stop paying attention to mortgage rates, rates drop.
Again.
In fact, current levels show we haven't been near
these rates since a brief period late last January and early
February. And for those of you who waited, and waited and
waited for rates to drop again, well, this might just be the
time.
But how do you pick the right interest rate? There's
no perfect answer, but by comparing interest rates to the
required discount points and origination fees it becomes a
little easier to decide which combination of points and fees
are right for you.
Personally, I've never been a big fan of paying points
or origination fees during a refinance, or for any loan for
that matter. Especially in this recent cycle.
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Mortgage Rates
U.S. averages as of September 27, 2001:
30 yr. fixed: 6.72%
15 yr. fixed: 6.23%
1 yr. adj: 5.45%
Get today's rates
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Getting the Most From
Your Home Inspection
With
thoughts of how you're going to arrange the furniture in your
new home, whether you'll make the deadline for registering the
kids for their new school and how you'll find a mover on short
notice, the home inspection process sometimes takes a back seat.
But it shouldn't.
A home inspection is perhaps the most important chapter in
the home-buying saga. You've seen the beautiful tile floors, the
new carpet and the freshly painted walls, but do you know what
lurks in the bowels of the heating system, what lies in the
crevices of the roof, and if anything -- other than water -- can
be found in the interior plumbing?
You should -- you're about to plop down a huge down
payment and commit to a 15- or 30-year mortgage. A home's
condition is important to you.
Some 77 percent of all home sales in the United States
last year involved a home inspection, according to a study by
the American Society of Home
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Charitable
Contributions
Americans
have a well-deserved reputation as a generous people. We support
thousands of charitable organizations, and when disaster
strikes, as it did on Sept. 11, 2001, our willingness to help
others in need shines through.
To encourage philanthropy - and perhaps to say 'thank you'
for the support Americans give year-round - Congress passed laws
to allow tax deductions for charitable contributions. In fact,
you can take deductions on up to half of your adjusted gross
income. But as with all 'gifts' from the Internal Revenue
Service, this one has a raft of rules and regulations to go with
it. Here are some things you need to know about making
charitable contributions:
You can only deduct contributions to qualified
organizations. The Better Business Bureau points out that
"tax-exempt" and "tax-deductible" isn't the same thing. An
organization can be exempt from paying income taxes, but not
meet the requirements for a charity. You can find out an
organization's tax-exempt status by:
Asking a representative of the group for a copy of its
"Letter of Determination" from the IRS. That's the formal
notification that its tax status has been approved. Calling your
local office of the
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How To Make Your
Home Safer
You've
probably seen them sprouting on lawns or popping up on windows in
many new neighborhoods -- signs for home security system. Companies
such as ADT, Brinks, and a host of other national and local
companies sell alarm systems to protect homes and the individuals
inside. Many builders are now working with security companies to
hard-wire alarm systems into new homes right from the start.
The National Crime Prevention Council says alarms can be a
good investment, but police caution that alarms are only good once
someone has already invaded your property. While the security alert
signs themselves can help deter criminals, there are many other
steps you can take to decrease the chances of becoming a victim.
Whether your house is old or new, one of the most obvious
pieces of advice is to check your locks. The NCPC says
Daily News and Advice
Read about the events shaping the Real Estate
market today, find current interest rates, or browse the
extensive library of advice and how-to articles written by some
of the top experts in Real Estate. Updated each weekday.
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