ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL - 10/24/2011

Mortgage rates are hovering not far above record lows set during the first week in October, but demand for purchase loans hit a low last week not seen since 1996, surveys of lenders show. Freddie Mac's latest Primary Mortgage Market Survey showed rates for 30-year fixed-rate mortgage (FRM) averaging 4.11 percent with an average 0.8 point for the week ending Oct. 20. ACTIVE REAL ESTATE FORECLOSURES FOR SALE That's virtually unchanged from 4.12 last week, and not far above the all-time low in records dating to 1971 of 3.94 percent set during the week ending Oct. 6. Rates on the popular 30-year fixed-rate mortgage were at 4.21 percent this time a year ago, before climbing to a 2011 high of 5.05 percent in February. For 15-year fixed-rate mortgages, rates averaged 3.38 percent with an average 0.8 point, essentially unchanged from 3.37 percent last week. The 15-year mortgage hit an all-time low in records dating to 1991 of 3.26 percent during the week ending Oct. 6.At this time a year ago, 15-year loans were averaging 3.64 percent, before climbing to a 2011 high of 4.29 percent in February. Rates on five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans averaged 3.01 percent with an average 0.6 point, down slightly from 3.06 percent last week, and not far off the all-time low in records dating to 2005 of 2.96 percent registered during the week ending Oct. 6. A year ago, the five-year ARM averaged 3.45 percent, before hitting a 2011 high of 3.92 percent in February. The one-year Treasury-indexed ARM averaged 2.94 percent with an average 0.6 point, up from 2.9 percent last week but still within range of a low in records dating back to 1984 of 2.81 percent seen during the week ending Sept. 15. At this time last year, the one-year ARM averaged 3.3 percent before hitting a 2011 high of 3.4 percent in February.