Renters Have Much to Gain by Pursuing Home Ownership

One of the advantages to having my job... is the personal satisfaction I get from putting good, hardworking people in their first home. Many people don't plan out in their goals for homeownership... that decision could have consequences on their futures.

Buying a home vs. renting is a big decision that takes careful consideration, as most mortgage consultants will agree. But the rewards of home ownership are great. For many years, purchasing real estate has been considered an extremely profitable investment. It is an achievement that offers a sense of pride, financial stability and potential tax advantages.

Taking the time to talk to your mortgage consultant in depth, will offer insight as to your current financial position. The results may surprise you...

Mortgage rates drop - Nov. 1, 2007

Mortgage rates drop - Nov. 1, 2007: "November 1 2007: 10:46 AM EDT NEW YORK (CNNMoney.com) -- Signs that the economy may be slowing ahead helped push mortgage rates near a six-month low, Freddie Mac reported Thursday. The government-sponsored loan buyer said the rate on a 30-year fixed-rate loan averaged 6.26 percent for the week ended Nov. 1, down from 6.33 percent last week. Current Mortgage Rates TypeOverall avgs 30 yr fixed mtg5.89% 15 yr fixed mtg5.51% 30 yr fixed jumbo mtg6.55% 5/1 ARM5.60% 5/1 jumbo ARM6.02% Find personalized rates: The 30-year rate has not been this low since the week ending May 17, 2007. Last year at this time, 30-year mortgage rates averaged 6.31 percent. 'October's consumer confidence fell to its lowest level since October 2005 as mortgage rates continued to decline this week to their lowest level in almost six months,' said Frank Nothaft, Freddie Mac's (Charts, Fortune 500) chief economist. 'Continued market concerns about weaker economic growth and further declines in the housing market have kept mortgage rates low over the last few weeks,' he added. In its latest report, Freddie Mac said rates on 15-year fixed-rate loans averaged 5.91 percent in the latest week, down from 5.99 percent last week. A year ago, the 15-year rate averaged 5.87 percent. Five-year adjustable-rate mortgages (ARMs) averaged 5.98 percent this week, down from 6.03 percent last week. A year ago, the 5-year ARM averaged 6.05 percent. One-year ARMs averaged 5.57 percent this week, down from 5.66 percent last week. They were at 5.53 percent this time last year. "

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Information: "Mortgage brokers are experts in the field of mortgage loans. Mortgage brokers work with home buyers to find the right mortgage loan much in the same way as real estate brokers help you find the right house. The primary service offered by mortgage brokers is expert knowledge, not only of mortgage rates and terms, but also of the various mortgage loans offered by specific banks and lending institutions. Therefore, mortgage brokers can save you time and money by identifying lenders and mortgage products that match your particular situation and preferences. "