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September 2008 Home Sales Up But Values Fall

Home sales in September were up 51% but values continued to sink as the median price fell by 22%, the Florida Association of Realtors reported. The dramatic rise in sales may have been little comfort for the industry as home values fell from $233,800 in September 2007...

Thirty-Year Mortgages Jump After Five Weeks of Declines

WASHINGTON – Sept. 26, 2008 – Rates on 30-year mortgages, which had been falling for five weeks, jumped sharply this week, reflecting the turbulence in global credit markets. Freddie Mac reported Thursday that its nationwide survey found that the average for 30-year,...

First-Time Homebuyer Tax Credit Repaid Slowly

WASHINGTON – Sept. 25, 2008 – If a first-time homebuyer purchases a home before the end of 2008, he or she gets a $7,500 tax credit in 2009 when they file their federal income taxes, but it must be paid back over time. Here’s how it works: The first-time homebuyer...