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Released: August 16, 2010
Shorter-term mortgages gain favor for refinancing
Source: Stephanie Armour, USA Today
More homeowners are refinancing into shorter-term loans, saving a bundle by taking advantage of the lowest mortgage rates in decades.
Nearly a third of borrowers refinancing fixed 30-year loans in April through June picked loans with 15- or 20-year terms, according to mortgage finance giant Freddie Mac. It was the highest share since 2004.
Read Full Article: Shorter-term mortgages gain favor for refinancing
Tags/Keywords
housing, mortgages, headlines, interest rates
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