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Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®), and for yet another week, fixed-rate mortgages reached record lows, while the 5-year adjustable rate remained tied at its low for this survey. (The 30-year fixed-rate survey began in 1971, the 15-year began in 1991, and the 5-year adjustable in 2005.) The 30-year fixed-rate mortgage (FRM) averaged 4.36 percent with an average 0.7 point for the week ending August 26, 2010, down from last week when it averaged 4.42 percent. Last year at this time, the 30-year FRM averaged 5.14 percent.
A lot has been made of the recent Federal Government home purchase tax credit and its' recent expiration as of April 30, 2010. There were record numbers of new home purchase contracts executed in time to leverage this federal stimulus incentive. Many purchasers were excited to gain the advantage of today's housing markets low pricing structure along with the government's $8,000 tax credit. This tied together with attractive mortgage rates of 5.25% gave many new home purchasers tremendous leverage in the housing market.
The United States Veteran's Administration provides a special pension for Veterans and their surviving spouses to help with monthly assisted living expenses. Veterans who qualify can receive from $600 - $1500 per month in assisted living expenses to help afford the care you deserve. To qualify for the Special Pension you must be a wartime Veteran, having served 90 days active duty, one day during wartime, and honorably discharged or a surviving spouse of a wartime Veteran. Additionally, you must have a medical diagnosis and have un-reimbursed medical expenses. Dates of conflict for eligibilty are WW1: 4/6/17 - 11/11/18, WW2: 12/7/41 - 12/31/46, Korea: 6/27/50 - 1/31/55, Vietnam: 8/5/64 - 5/7/75, Lebanon: 8/25/82 - to be determined, Grenada: 10/25/83 - 12/15/83, Panama: 12/20/89 - 1/31/90, Persian Gulf: 8/2/90 - to be determined. To find out more about your eligibilty email VA@c21amhomes.com or contact an Elder Care Attorney who will proces...
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