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30-year fixed mortgage rate below 4% for first time

Presented by Eric Matz, Coldwell Banker Rancho Bernardo, Poway Real Estate

Source: Lily Leung at Sign On San Diego   The average 30-year fixed mortgage has fallen this week to below 4 percent for the first time in history, said Freddie Mac's weekly home-loan report. The rate for a 15-year fixed rate loan also has hit a record low. This week's historically low rates followed "a sharp drop in 10-year Treasuries early in the week as concerns over a global recession grew," said Frank Nothaft, vice president and chief economist of Freddie Mac. Fallen rates also come on the heels of Federal Reserve Chairman Bernanke's statement to Congress's Joint Economic Committee

Loans 101 – An Overview of the Loan Process

Presented by Eric Matz of Coldwell Banker Rancho Bernardo and Jim Endicott of Endicott Financial Services

Owning your own home provides several benefits. In addition to the satisfaction of being a homeowner, you can build equity, enjoy tax deductions*, say "good bye" to your landlord and take control of your living environment. Before you should even look at buying a home, you should know how much you can afford to pay for the home of your dreams. And to do that, you need to contact a lender and get “preapproved” for a loan. But do you understand the loan process?