Rates for a 30 yr. mortgage have have dropped for the second straight week since the recdord lows last Spring. The new avarage rate for a 30 year fixed mortgage this week is 5.07, down from 5.08 last week. Rates are supposed to stay at a low rate for the next month or two. However, these rates will [Read More]

The rates for 30 year mortgages rose to 5.29 this week after reaching a record low earlier this summer of 4.78%. Last week the same mortgage was 5.22%. Last year at this time, a 30 year fixed mortgage was 6.52%. The average rate for a 15 year fixed mortage this week is 4.68% which rose from 4.63 la [Read More]

GOOD NEWS - Rates on 30-year mortgages dipped this week after economic reports came in better than expected, Freddie Mac said Thursday. LOOK AT THE NUMBERS COMPARED TO LAST YEAR- The average rate on a 30-year fixed rate mortgage was 5.22 percent, down from last week, when it was 5.25 percent. Last [Read More]

What a great time to purchase a home! Mortgage rates have dropped once more for the third week in a row. Last year at this time, a 30 year fixed mortgage averaged 6.26 percent. This week the same mortgage is down to 5.14 percent. It's not quite down as far as the record low in April of 4.78 per [Read More]

The Mortgage Bankers Association (MBA) reported that for the week ending on June 12, 2009 a 15.8 percent decrease in national mortgage applications was reflected on their seasonally adjusted index of mortgage applications. These figures are not just a reflection of new purchases, but they include r [Read More]

All you Buyers out there sitting on the fence may want to get pre-qualified now. The rates for 30 year home loans have increased this week making the rates the highest in 7 months. The average rate jumped from 5.29% last week to 5.59% this week. In November of 2008 the rates averaged 5.97%. Freddie [Read More]

Rates Are Going Up!!! A lot of buyers decided to hold off on buying a home hoping that the market would keep crashing and prices would continue to go down assuming they could get a better deal then the deal already in play. Well prices remain the same BUT rates are increasing significantly, enough [Read More]

South Florida was hit pretty hard by the mortgage crisis; Lee County alone showed that 2,450 foreclosures were filed during the month of May in 2008. However, last month showed a decrease in foreclosures of over 550 less than last year. The low prices on the real estate market have sparked a rise [Read More]

More Deatils on th $8,000 Tax Credit After some extensive research I have more details on the $8,000 tax credit. FHA approved lenders have been given the ok to use the tax credit up-front. Now here is how this works. FHA will develop a bridge-loan to cover closing costs and additional down payment [Read More]

As interest rates are starting to climb, buyers should take a look at purchasing soon as the prices are still low, interest rates are still great, and the $8,000 tax credit for first time buyers is still here! First time buyers are defined as people who have not owned a home in the last three year [Read More]