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After hitting a 12-month low, mortgages have begun to edge upward, according to Freddie Mac’s most recent mortgage rate survey. The average rate for a 30-year fixed-rate mortgage, which reached 4.95.
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more of these lenders are everyday investors tapping their savings accounts to make a profit doling out mortgages. So how does it work? Through brokers, hard-money lenders offer high-interest,
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Still others yet are borrowing against their own homes to extend mortgage loans to borrowers. It’s this last category that concerns some analysts, including Ben Rabidoux, president of North Cove.
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A second unregistered mortgage broker with prior enforcement records has allegedly set up loans alongside registered mortgage brokers, according to the B.C. Registrar of Mortgages. It is the second.