As long term rates begin to rise following swift increases in the short term rates, borrower's need to consider the affects on loan underwriting when trying to maximize the loan amount. Today the determining factor in optimizing leverage for income producing properties is not the Loan to Value Ratio (LTV ratio).

Now the the key loan underwriting factor is the Debt Service Coverage Ratio (DSC ratio). Expressed as a percentage, the annual loan payment (P&I) obligation on the permanent loan divided by the property's annual net operating income. Typical DSC ratios used by lenders range from 1.15:1 to 1.25:1.

So when you are trying to maximize your loan amount, find the lender using the lowest DSC ratio because it may just mean a lot more dollars in your pocket.

Waterbury Republican American (CT) (02/03/06) ; Aversa, Jeannine The 30-year fixed mortgage rate climbed to 6.23 percent from 6.12 percent over the past week, according to Freddie Mac, while the 15-year fixed rate moved up to 5.81 percent from 5.70 percent. Also on the rise were the one-year adjustable mortgage rate to 5.33 percent from 5.20 percent and the five-year hybrid ARM to 5.87 percent from 5.75 percent. Freddie Mac chief economist Frank Nothaft attributed the increase to inflationary pressures tied to higher labor costs and lower worker productivity. The Mortgage Bankers Association expects the 30-year mortgage rate to hit 6.4 percent by the year's end, with some experts predicting a surge to nearly 7 percent in the event of rising inflation.

English professor Lee Tobin McClain shied away from doing careful planning for years, not wanting life to become too rigid. But now, she says, "I find that planning my priorities and controlling my time frees me to think creatively and have more fun."

One step she now takes: Every Friday, before leaving the campus of Seton Hill University in Greensburg, Pa, McClain does at least part of the planning for the followoing week. And that allows her to enjoy weekends more.

"I've also started scheduling in lunch dates and jogs with my colleagues, which has pushed away burnout," she says. The professor's lessson: For carefree days, get disciplined.

-Adapted from "Lessons in time Management," Lee Tobin McClain, The Chronicle of Higher Education,www.chronicle.com.