Home loan average continues to rise - Business - Business - theage.com.au

Home loan average continues to rise - Business - Business - theage.com.au: "THE average home mortgage has increased 30 per cent over the past three years, despite the cooling Australian property market, an index shows.
The AFG Mortgage Index has found that the average size of mortgages was $277,000 in August this year, up 30.4 per cent from $212,924 in August 2002.
Over the past year, the average mortgage size has grown by 12 per cent, from $247,000 in the same month in 2004.
The index showed a wide variation of mortgage growth between states, reflecting confidence in property values."
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Rates on 30 yr mortgages decline for third week in a row

CourierPress: Business: "WASHINGTON - Rates on 30-year mortgages declined for a third consecutive week as bond investors worried that Hurricane Katrina and soaring energy prices will slow the economy.
Mortgage giant Freddie Mac reported Thursday that rates on 30-year, fixed-rate mortgages fell to a nationwide average of 5.71 percent this week, down from last week's 5.77 percent. Rates are now at their lowest point since mid-July and significantly below the four-month high of 5.89 percent, which hit during the week of Aug. 11. "
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Break your ARM, not your bank account

The Capital Times: "Before you sign on the dotted line to buy a home, be just as fussy about selecting a home mortgage.
Recently, one of our clients informed us they were in the process of buying a home. The home they were purchasing is what we would call their '20-year' home. It has room for future growth and provides them the comfort and amenities they want today. They purchased it not as a stepping-"
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