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Monthly Archives: November 2009

October Home Sales Rise 10.1% From September

Home sales surged for the second month in a row in October, climbing to the highest level in 2 1/2 years as first-time buyers rushed to take advantage of an expiring tax credit. Home sales nationwide are now up nearly 37 percent from their bottom in January, data showed, though they are still 16 percent Read More

Rates On 30-year Mortgages Remain Below 5%

Rates on 30-year mortgages stayed below 5 percent this week but remained above the record set earlier this year, Freddie Mac said Thursday. The average rate for a 30-year fixed mortgage fell to 4.83 percent, down from 4.91 percent last week, the mortgage company said. Last year at this time, 30-year mortgages averaged 6.04 percent. Read More

Loan Ceiling Extended

Buyers of homes in high-priced markets have some reason to cheer: the federal government recently extended through 2010 the maximum dollar amount for “conforming loans.” This will probably mean better options for borrowers who might otherwise have had to take out “jumbo” mortgages. Conforming loans meet all the guidelines of Fannie Mae and Freddie Mac, Read More