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Mortgage Rates Fall to Third Straight Record Low

WASHINGTON – Jan. 5, 2009 – Rates on 30-year mortgages fell to a record low for the third straight week and borrowers took advantage of the drop, sending new applications soaring. With the Federal Reserve on the verge of pouring hundreds of billions of dollars into the

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Housing Recovery By Spring

Financial mogul Sam Zell, beleaguered owner of the Tribune Co. that declared Chapter 11 bankruptcy last week, told an Israeli business conference Sunday that the U.S. real estate market will be in recovery by spring 2009. Zell pointed out that the U.S. population is growing, and with

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Fannie To Help Renters Stay in Forclosed Homes

NEW YORK – Dec. 19, 2008 – Fannie Mae said Monday it’s finalizing a plan to help renters stay in their homes even if their landlord enters foreclosure. The mortgage giant said it’s working on a national policy to allow renters living in foreclosed properties – and

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US Housing Starts Fall More Than Expected

WASHINGTON (AP) – Dec. 19, 2008 – Struggling U.S. homebuilders cut back even more than expected last month, sending the construction of new homes plummeting in November by the largest amount in almost a quarter-century. New home starts fell to a seasonally adjusted annual rate of 625,000

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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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