Let me continue the mortgage topic. In this post I’ll describe various kinds of mortgage rates, as the question of mortgage types are spoken about in details in Fizber Consumer Guide to the Most Popular Mortgage Loans. In the viewpoint of many, mortgages should be straightforward - you borrow money to buy a house and pay interest on the loan.

But after a few enquiries, you soon realize that it’s not so simple after all.

In a hugely competitive market, building societies and banks are continually updating and extending their range of mortgages. The list is already extensive enough to baffle all but the most determined.

The most important points are how you pay back the capital you borrow and how you pay the interest on it. See the list of most frequent mortgage rates types:

Variable rates - This means you pay the going rate on your loan. The mortgage rate changes every time interest rates change or, as in most cases, the overall effect of any interest rate changes is calculated once a year and payments are altered accordingly. Whatever kind of mortgage you start with, it is likely to change to variable rates at some point.

Fixed rates - The interest rate is fixed for the period agreed - often two to five years. These are ideal for budgeting or if you think rates might increase. You do not benefit if rates fall, and will face penalties if you try to quit. Very low rates may tempt you, but they can be used to trap you into paying over the odds. See check how long you will have to stay with the lender before you can switch without penalty.

Capped rates - These are fixed, but if rates fall you pay the lower rate. Such deals can be a good buy for budgeting.

Cash back deals - This is when lenders offer money back if you take out a particular product.

Discounted rates - Under this type of mortgage the borrower is offered a discount off the lender’s variable rate. The rate paid will fluctuate in line with changes in the variable rate. The discount applies over a set term.

The choice of the most suitable mortgage rate should depend on the answers to the following questions:

· How much can I afford to borrow?
This deals with such questions as “What will the cost be each month?” and “What fees will I have to pay?”

· How can I tell which mortgage rate is best for me?

· What is the best type of mortgage for me?
This deals with how to understand the jargon, such as “What do fixed rate, variable rate, discounted or low-start, and flexible mean?” and “Will this mortgage suit my circumstances now and in the future?”

· How should I repay it?
“Why are you trying to sell me an endowment policy, or a pension or an Isa?”, “Why is it best for my circumstances?” and “What commission are you being paid?”

· Can I make lump sum payments to reduce the size of the loan?

· Are there any redemption penalties?

· Does this mortgage come with compulsory insurance?

· What other charges will I have to pay?

· What happens if I can’t pay?

· What about the small print?

I do hope that the information was useful.

Fizber Consumer Guide to the Most Popular Mortgage Loans

There’s no such thing as the single best home mortgage. Choosing a suitable mortgage in accordance with your personal situation can take much time and effort. Matching a suitable mortgage to your needs may save you thousands in interest payments over the life of your loan. Fizber.com team have made a research of the most popular home mortgage plans to help you find the best option. The results are stated in Fizber Consumer Guide to the Most Popular Mortgage Loans.

Promote your Fizber Listing at the Top of Google Search Results

Have you ever wanted to move your Fizber home listing to the top of the Google Search results? The SearchWiki (available to signed-in Google users) lets you customize your Google Web Search results and even “vote” for your home listings, very similar to Digg. You can vote the results “up” or use a “X” if you don’t like what Google returned. When you see your home listing in the search results, click on “up” and your listing will be displayed above all results for the search term. The customized results will appear every time you do that search in the future (assuming you are logged in).

Oct brought the sale of 58 homes in the county; Sept 63,Aug 99, July 165, Jun 139, May 133, Apr 87, Mar 81

· Eudora (5) avg. price $179,430

· $464,900 was the highest price in the county and $47,000 was the lowest price in the county

· Oct for the county had Average 99 DOM (days on market) Sept 97, Aug 76, Jul 73, Jun 99, May 93, Apr 93, Mar 130, Feb 117, Jan 143, Dec 119, Nov 150, Oct 117 with Oct homes receiving 97.6% of avg. ask price vs Sept 97.4%, Aug 97.1%, Jul 97.9%, Jun 98.7%, May 98.2%, Apr 97.8%, Mar 98.12%, Feb 98%, Jan 96.94% showing seller's position is still very strong.

· 610 homes on MLS in the county vs 1600 in June ‘07.

· Net of 30 homes lost off MLS for the county in past month (fewer choices)

· $179,772 was Oct's average price for the county, Sept $207,910, Aug $191,891, Jul $192,031, Jun $195,043, May $204,047, April $186,809, Mar $185,139, Feb $210,814, Jan $209,730, Dec $194,078

· 7 had 5 or more bedrooms

· 15 had 4 bedrooms

· 32 had 3 bedrooms

· 7 had 2 bedrooms

· 2 had 1 bedroom

· 3 had 5 or more bathrooms

· 10 had 4 bathrooms

· 18 had 3 bathrooms

· 18 had 2 bathrooms

· 14 had 1 bathroom

For a FREE CMA, (no obligation comparison of your home's value) email: HomeValue@LetRobDoIt.com or 785-393-2274.

Thanks and "Don't keep me a secret--I'm never too busy for your referrals!"
Rob (FREE Home Warranty with every home you buy or sell through me!!)
Rob Lang, CRS, ABR, ePro, GRI, CFPS Realtor®
Sellers www.MLSPlease.com (Marketing homes to 4 MLS's, to over 100 websites, "Showcase" Realtor.com listing, and virtual tours)
Property Searches www.LetRobDoIt.com
Places for Rent or Lease www.KSLease.com
Blog www.ActiveRain.com/blogs/langrob
Realty Executives, Hedges Real Estate (three convenient locations)
(Serving Lawrence, Eudora, Baldwin, Topeka, Olathe, Tonganoxie, Leavenworth, Kansas City, McLouth, Wellsville, Ottawa, Berryton, Tecumseh, more)
300 Rockfence Place, Lawrence, KS 66049
1037 Vermont, Lawrence, KS 66044
3300 Clinton Parkway Ct., Lawrence, KS 66047
785-393-2274 (cell) 206-339-3199 (fax)
Rob@YouWantHouses.com

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