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Interest rates remain low and favorable for homebuyers.

Publication: Mississippi Business Journal
Publication Date: 25-APR-05 		Format: Online - approximately 862 words
Delivery: Immediate Online Access

Article Excerpt
Lenders around the state say that mortgage rates continue to be good for homebuyers with the majority of buyers preferring to go with a fixed rate rather than variable rates.

In the business for 27 years, Brenda Swett of T. Graham Mortgage's Pascagoula office thinks interest rates are wonderful. "Any time you see an interest rate less than 8%, it's good," she said. "We're quoting 5.875% with no points and no origination fee."

With low interest rates available for homebuyers, she sees little use of variable rates and does see 100% financing for conventional loans. "The primary reason is that the interest rate is so low, buyers can invest their money in other things for a higher return," she said.

She points out that the Mississippi Home Corporation...

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