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Financial Industry Pushes for Lower Mortgage Rates

WASHINGTON – Dec. 18, 2008 – Financial industry lobbyists are urging the Treasury Department to take steps to lower mortgage rates and help stabilize the battered U.S. housing market. Under one proposal, Treasury would seek to lower the rate on a 30-year mortgage to 4.5 percent by

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Mortgage rates fall to 37 year low Dec 18 2008

Thirty-year fixed-rate mortgages interest rates fell to their lowest level on record, according to Freddie Mac’s Primary Mortgage Market survey released Dec. 18. The national average interest rate for 30-year fixed-rate mortgages was 5.19 percent for the week ending Dec. 18, the lowest level since McLean, Va.-based

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Crist Announces Florida Banks Halt Forclosures for 45 Days

TALLAHASSEE, Fla. – Dec. 3, 2008 – Florida’s bankers and credit unions announced Monday that they’d suspend foreclosing on homeowners for the next 45 days. Gov. Charlie Crist called a press conference to announce the halt in foreclosures, but neither he nor the president of the Florida

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NAR Reports Curb Appeal Matters More Than Ever

WASHINGTON – Dec. 3, 2008 – For the second year in a row, Realtors® report that exterior remodeling projects return the most money as a percentage of cost, as detailed in the 2008 Remodeling Cost vs. Value Report. On a national level, wood deck additions and all

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Mortgage Rates Dip for Fourth Straight Week

WASHINGTON – Dec. 1, 2008 – Rates on 30-year mortgages sank for a fourth straight week, falling below 6 percent for the first time since early October, and are heading lower due to the government’s massive new effort to aid the U.S. housing market. Further drops are

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Mortgage Rates Drop For Second Week November 2008

WASHINGTON (AP) – Nov. 14, 2008 – Mortgage rates dropped for a second straight week, reflecting the impact the weakening economy is having on financial markets. Freddie Mac, the mortgage giant, reported Thursday that rates on 30-year, fixed-rate mortgages averaged 6.14% this week, down from 6.20% last

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Housing Affordability Rises to Highest Level in Four Years

WASHINGTON – Nov. 19, 2008 – With home prices decreasing and interest rates holding at historically low levels, the number of potential homebuyers nationwide who can afford to buy new and existing homes has reached the highest level in more than four years, according to the National

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Freddie Seeks Government Aid After $25.3 Billion Loss

WASHINGTON – Nov. 17, 2008 – Freddie Mac is asking for an initial injection of $13.8 billion in government aid after posting a massive quarterly loss. The mortgage finance company is making the first request to tap the $200 billion promised by the Treasury Department to keep

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HUD Announced New Permanent FHA Mortgage Loan Limits

WASHINGTON – Nov. 13, 2008 – U.S. Department of Housing and Urban Development (HUD) Secretary Steve Preston today announced the new Federal Housing Administration (FHA) mortgage loan limits for single-family homes as prescribed by the Housing and Economic Recovery Act of 2008. Beginning Jan. 1, 2009, FHA

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Homeowners Cling to False Optimism About Own Home

TAMPA, Fla. – Nov. 13, 2008 – The housing market may have bust, but many homeowners are still living in a bubble. Despite dismal housing headlines and reports showing falling prices nationwide, owners in some once-hot areas still believe their home is gaining value or at least

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