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Fixed rate mortgages favored in purchases
A Chicago Title Insurance study shows conventional fixed rate loans dominated home purchases last year as adjustable rates fell to 23.2 percent. The average down payment was 24.8 percent overall with 11.4 percent for first time buyers, and 32.7 percent for repeat buyers. Median first time home price was 75100 dollars. repeat buyers paid 106200 dollars with monthly payments around 4 9 63 dollars.
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Chicago Title Insurance Co
John Pfister
Pfister