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Distressed Sales Leading to Inaccurate Appraisals
DailyMORTGAGE LOCK ADVISORY 
October 12, 2012, 7:00 AM PST
Click for Lock Advice Updated Several Times Daily
      
7 day Mortgage Interest Rate lock or Float Advice: LOCK Points based on 3.0% Mortgage Backed Securities are down 0.01Point. 30 Day Mortgage Interest Rate Lock or Float Advice: FLOAT.  
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MORTGAGE NEWS BRIEFS  
Distressed Sales Leading to Inaccurate Appraisals By: Esther Cho  Inflated appraisals were identified as one of the causes of the housing bubble, and now undervalued appraisals are viewed as a reason for a stalled recovery. In a September National Association of Realtors (NAR) survey related to home appraisals over the past three months, 11 percent of Realtors said a contract was cancelled because a home was appraised at a value below the negotiated price >>MReport   Foreclosures hit 5-year low By Kerri Ann PanchukForeclosure activity reached a 5-year low in September with only 180,427 filings made on distressed properties, RealtyTrac said Thursday. The filings surveyed include ... more

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