Make your Move - 12/12/11 04:43 PM
The average rate on the 30-year fixed mortgage hovered above its record low for a sixth straight week. Which begs the question, why isn’t everyone taking advantage of this?
Freddie Mac said Thursday the rate on the 30-year home loan ticked down to 3.99 percent from 4 percent the previous week. It dropped to a record low of 3.94 nine weeks ago, according to the National Bureau of Economic Research.
The average rate on the 15-year fixed mortgage was edged down to 3.27 percent from 3.30 percent. Nine weeks ago, it too hit a record low of 3.26 percent.
Rates have … (0 comments)

Here’s the Good News! - 12/05/11 02:57 PM
 
I always try to be a positive person and I try my hardest this time of year. Everyone should be jolly! So here are bits of good news I’ve discovered in the market recently…
Pending sales of existing U.S. homes surged in October by the most in nearly a year. And I should know, I’m in escrow on one- about to be two properties. My clients aren’t alone; Americans are taking advantage of low interest rates for mortgages. Sales of existing homes jumped in October, they are up 1.4%, rising to 4.97 million units from a downwardly revised 4.90 million … (2 comments)