Posted by: Todd Long | December 15, 2008

Positive Angle-Talking Points about Real Estate

Recent Quotes & Excerpts about the Positive Signs in the Real Estate Market: 

Mortgage Rates Drop for Sixth Straight Week and Could Continue to Fall 

Mortgage rates continue to fall, with the average 30-year fixed mortgage rate falling from 5.92% to 5.8%, according to Bankrate.com‘s weekly national survey.

The sharp decline in mortgage rates in recent weeks can have a pronounced impact on a borrower’s monthly payments. Six weeks ago the average 30-year fixed mortgage rate was 6.77%, meaning a $200,000 loan would have carried a monthly payment of $1,299.86. With the average rate having since fallen to 5.8%, the monthly payment on a $200,000 loan is now $1,173.51.

— “Bankrate: Mortgage Rates Down Six Straight Weeks,” Yahoo.com Finance, Dec. 11, 2008.

Government efforts to provide easier credit to consumers and jump-start flagging home sales could push mortgage rates “well below 4 percent,” according to James Lockhart, whose agency oversees government-controlled mortgage giants Fannie Mae and Freddie Mac.

— “Regulator: Mortgage Rates Could Drop to 4 Percent,” by Daniel Wagner, Washington Post,
Dec. 10, 2008.

 

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