Wednesday, December 28, 2016

Average 30-year mortgage rate declines

Source: Associated Press

Long-term U.S. mortgage rates edged lower this week. As rates remain at historically low levels, homeowners taking advantage of the chance to refinance their mortgages have pushed up refinancing activity.
Mortgage giant Freddie Mac said Thursday the average for the benchmark 30-year fixed-rate mortgage declined to 3.44 percent from 3.46 percent last week. The average rate is down from 3.90 percent a year ago, and is close to its all-time low of 3.31 percent in November 2012. The 15-year fixed mortgage rate eased to 2.76 percent from 2.77 percent.

Wednesday, December 21, 2016

Beware: Scammers may be posing as your REALTOR®

Prospective homebuyers are being scammed by hackers who are stealing passwords when people log into free Wi-Fi networks or click on suspicious emails. Scammers are searching homebuyers’ or real estate agents’ inboxes for messages related to real estate transactions. Once they find you’re in the process of buying a home, they’ll send a fake message from your agent or attorney, title representative alerting you to new money wiring instructions to a fraudulent account.
Before making a wire transfer, call your agent to verify. Beware of links sent by email and instead of clicking on a link in an email to go to an organization’s website, look up the real URL and type the web address yourself. Report any suspicious activity to the FTC.
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