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Mortgage rates have been dropping for the past few months, with a 30-year fixed falling to 4% recently according to FreddieMac. And now there’s the possibility that the Fed will lower interest rates.
· Mortgage rates were level to slightly higher this week, as a rebound in hiring and an intimation by Federal Reserve Chairman Powell that lower short.
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Reverse Mortgages. A reverse mortgage is a home loan that you do not have to pay back for as long as you live in your home. You only repay the loan when you die, sell your home, or permanently move away. Homeowners who are at least 62 years old are eligible.
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Mortgage servicing transfers occur when the servicing of a loan is sold or transferred from one institution to another. The terms of your loan do not change; .