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Where are mortgage rates headed?

By Lou Barnes, Monday, December 31, 2007.

An inflation-inspired popup in rates is reversing on news of a weakening economy. Mortgages are still above 6 percent (they touched 6.25 percent at Christmas Eve worst), and markets will now hold until the release of all-powerful payroll numbers on Friday, Jan. 4.  more...

Extra payment to principal may not dent monthly payments

By Jack Guttentag, Monday, December 31, 2007.

Many borrowers would like a mortgage on which the monthly payment would drop following a large payment to principal. They may have highly irregular income, or they may anticipate coming into a large sum of money from a bonus, bequest or insurance settlement.

Mortgages fall into four categories with regard to how responsive they are to this need. Standard fixed-rate mortgages (FRMs) are the least responsive.  more...

Sellers list right to avoid price reductions

By Dian Hymer, Monday, December 31, 2007.

In most areas of the country, 2007 marked a change in the residential home-sale market. Buyers gained clout for the first time in over a decade. Inventories of homes for sale grew to record levels in some places. Price reductions, which carried a negative stigma when listings were easy to sell, came to be seen as a necessary part of the home-sale process.

That is not to say that price reductions are a good thing. They are not. The initial marketing effort is a prime opportunity to attract attention to a new listing.  more...

Update wills when moving cross-country

By Benny Kass, Monday, December 31, 2007.

DEAR BENNY: My elderly parents (dad is 90, mom is 86) had been living in Florida for the past 20 years, but due to bad health, I moved them to California. Do they need to change their wills or do the provisions still apply "as is"? I have power of attorney but would like to leave things as they are, if possible. --Beverly

DEAR BEVERLY: Wills should be updated periodically, even if you live in the same state.  more...