| Refinancing Your Mortgage 101
Editors Note: There are several things you should consider before you refinance your home. Here is an article concerning this subject: Practically everyone has refinanced or thought about it at one point in time. We've seen the dozens of commercials that urge us to do it. With rates at record lows over the past few years, refinancing has helped many borrowers lower their monthly payments. Refinancing your mortgage can be a very hard and confusing experience. When you're making your decision, there are several things to keep in mind. First, even a small rate cut can pay off quickly. Second, if you are planning to stay in your home for at least three to five years, it may make sense to pay "points" (a point equals 1% of the loan amount) and closing costs to get the lowest available rate.
An Orderly Ebb for Stocks
WEBSTER'S DEFINES "RISK" AS the chance of injury, damage or loss. As the second quarter begins, the stock market is opting for a narrower interpretation: Risk is the prospect of a debilitating economic slowdown -- and the creeping likelihood that persistent inflation could prevent the central bank from swooping in to cut interest rates. The alarm this risk caused just a month ago has abated somewhat. A recent raft of benign economic data -- and each passing week without a catastrophe from the wobbly land of mortgage loans -- has encouraged the notion that the economy is slowing ... .
Long Island mortgage firm lowers estimates
American Home Mortgage Investment Corp. issued a profit warning for the first quarter and full year, citing weaker conditions in the secondary mortgage and mortgage-backed securities markets.
Chairman and Chief Executive Michael Strauss said that far fewer buyers are offering much lower prices, both for loan pools and for AA, A and BBB rated and residual mortgage securities.
These changes had a significant, adverse impact on our companys first quarter results, reducing our gain on sale revenue and causing mark-to-market losses in our portfolio, said Mr. Strauss, in a statement.
The Melville, L.I. firm cut its first quarter earnings estimates to between 40 and 60 cents a share, after previously calling for a 9% to 15% increase over 2006 quarterly earnings of $1.02.
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