Rates on 30-year mortgages dipped slightly this week, the fifth decline in the past six weeks.

Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 5.67 percent this week, down from 5.68 percent last week.

The 30-year mortgage, which ended last year at 6.17 percent, has been below 6 percent for five weeks, a stretch that has not been seen since 2005.

Analysts attributed the declines in mortgage rates to growing fears that the country could be slipping into a recession.

"Economic news released in the past week showed that the economy continues to be weak," said Frank Nothaft, chief economist for Freddie Mac.

Another factor pushing mortgage rates lower was the decision by the Federal Reserve last week to cut a key interest rate for a second time in January as Fed policymakers moved aggressively to lower borrowing costs in an effort to keep the country out of a recession.

Calling all buyers!! So isn't this the best time to buy?

Analysts are hoping that this low level for mortgage rates will help spur a rebound in the housing market, which suffered steep declines last year in sales of both new and existing homes.

Other mortgage rates also declined this week. Rates on 15-year mortgages, a popular choice for refinancing, dipped to 5.15 percent, compared with 5.17 percent last week.

As Industry Professionals we have to shout this out... and we are not.

I've been tagged or sent a "MeMe" to list my 5 favorite books. Thank you Susan Milner.  By the way Susan is a great blogger but she is also a great Real Estate Agent.

Let's get to my favorite books.  Since I am a manager of 85 agents and have been trying to take them ahead of the pack, my first book choice would be Realty Blogging by Richard Nacht and Paul Chaney.  The information provided in this book was easy to understand and I was able to translate it into a Sales Meeting and Training Sessions.  My goal is to have all Sellstate agents blogging.  Building relationships and growing their business.  Realty Blogging will help you to outsmart your competion, get new customers and build you market name. 

The Afghan is the story of how our government works undercover in other countries.  With all that we see on the front pages of our newspapers, I found this fiction gave me a totally different appreciation of what sacrifices that many are making to keep us free.  Fiction but very good.  It is what some are living today.

The title says it all.  One get even "Quickie"  turns into quiet a mystery.  It is a page turner, you don't get it until the very end.  We all have to relax sometimes and enjoy a quick read.  This is one weekend by the pool.  It is James Patterson at his best.  If you like his Alex Cross novels you will like this.

 Sometimes you really need a challange, well Killer Su Doku is it.  It is Sudoku puzzles without numbers.  Well there are some numbers but not the solution.  You have to combine a group of numbers to fit in two or three squares.  It really is hard but fun.  Something different for those of you who need a challenge.

How Leaders Gain And Lose It, Why People Demand It.  This is my bible working with agents.  If you are going to be an example for your agents you better know how.  This work by Kouzes and Posner is really the ABC's of leadership.  Building values and earning the support of the sales associates.  Every owner/manager should read this.

Good Luck to all...and may you find these books as interesting as I have.

Maggie Morris