Mortgage rates remained remarkably steady during the past few weeks, good news for borrowers since rates are at low levels.

The seventh short-term interest rate reduction this year by the Federal Reserve, tumult on Wall Street, and a decline in consumer confidence have all impacted the marketplace. Despite such events, 30-year fixed-rate loans have been priced at or below 7 percent and even-lower rates have been available for 15-year mortgages.

While some experts predict record loan volumes this year, the core point for borrowers is this: There's a lot of money available to purchase or refinance real estate, money at rates which look attractive when compared with a year ago.

15-Year Versus 30-Year Financing

Should you get a 15-year or 30-year loan?

A 30-year fixed rate loan has payments for principal and interest (P&I) which do not change over the loan term. A 30-year loan for $100,000 at 7 percent interest would have a monthly payment for principal and interest of $665.32.

A 15-year loan also has fixed monthly payments for principal and interest. Because the loan term is shorter, however, monthly payments are higher:A 15-year loan for $100,000 at 7 percent interest would have a monthly payment for principal and interest of $898.82.

Some borrowers might favor the 30-year loan because the low monthly payment means it will be easer to qualify for the loan. Those who favor 15-year financing like that such loans have lower total interest costs.

There are pros and cons for each choice, so call to learn more and discuss your options.

Keeping Computer Equipment Safe

Computers are everywhere and one result, according to Nielson/NetRatings, is that 58 percent of us are now online.

Whether for business, school, or pleasure, if you have a computer at home it's wise to assure that your equipment is safe. What should you do?

1. Contact your insurance broker to see what coverage you have (or need) for your equipment and software. Ask what records are required in the event of a claim -- and gather them now.

2. If you use a laptop which moves infrequently, secure it to a desk or other large object with a security cable.

3. If you connect to the Internet, use firewall and anti-virus protection to defend your system against viruses and worms. Such software is inexpensive and sometimes free.

4. Back-up files. It may be impossible to fully re-assemble files in case of problems, so make a practice of backing up your work. Many computer users make several back-ups, one for home and another set for a different location.

Local Moves Remain Most Popular

Does it seem as though a lot of people move each year? It's not an illusion. According to the National Association of Realtors, between March, 1999 and March, 2000 some 43 million people moved -- 16 percent of the entire U.S. population.

What's interesting is that most moves are fairly local, 56 percent are actually within the same county. NAR research also shows something else: Most of us move within 10 miles of our current address.

The preference for local moves can be explained by a number of factors: Continuing employment with the same company; familiarity with local schools, shopping, and amenities; a knowledge of nearby roads and traffic; and closeness to friends and family.