Monthly Archives: July 2012

Mortgage Rates Hit Another All Time Low

Freddie Mac reports 30-year fixed average at 3.49% For the first time, according to records dating back to the 1950s, the average rate for a mortgage has dropped below 3.50%, hitting 3.49% last Thursday. That’s the lowest mortgage rate recorded … Continue reading

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Conflicting Signs for Housing Market Recovery

Mortgage rates hit another all time low last week, according to Freddie Mac — the average rate for a 30-year fixed loan sank to 3.56 percent, the lowest recorded rate since long-term mortgages were introduced in the 1950s. At the same time, … Continue reading

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Housing Markets Recovering Coast to Coast

According to he National Association of Home Builders/First American Improving Markets Index (IMI), 32 states and Washington, D.C. rose in July from 80 to 84. Since April, when the index reached a high of 101 improving markets, more than 20 … Continue reading

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Foreclosures — Two Steps Forward, One Step Back

Year-over-year looking good There were 63,000 foreclosures completed this May — down considerably from the 77,000 completed in May of 2011. CoreLogic reports that the number of homes in foreclosure inventory also went down year-over-year in May, from 1.5 million homes … Continue reading

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Mortgage Rates Down, Sales Up

“evidence is accumulating that the optimists may finally be right. The housing market is starting to recover. Prices are rising. Sales are increasing. Home builders are clearing lots and raising frames.” ~The New York Times, June 27th, 2012, Lowest rates … Continue reading

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