Month: June 2012

Mortgage Rates for 30-Year Loans at Record-Low 3.66%

Freddie Mac’s latest Primary Mortgage Market Survey shows that the average U.S. 30-year fixed-rate mortgage is at record-low 3.66%. Freddie Mac, in its June 28 announcement, added that the 15-year fixed-rate mortgage is also at record-low 2.94%. A year ago, the 30-year fixed-rate mortgage averaged at 4.51%; while the 15-year fixed-rate mortgage last year averaged …

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U.S. Home Prices to Bottom by 2013 – Zillow Survey Says

Home prices will decline only a little this year and home prices will bottom by 2013, this according to the June 2012 Zillow Home Price Expectations Survey. “This is the first time the individual economists surveyed were largely in agreement on the trajectory of home prices nationally, signaling that a true bottom may be imminent,” …

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Homeowners to Collect Up to $125,000 as Compensation for Foreclosure Processing Abuses

Homeowners who were victims of foreclosure processing abuses could each receive up to $125,000 from mortgage lenders, this according to the Office of the Comptroller of the Currency (OCC) and the Federal Reserve. The OCC and the Federal Reserve are the two government agencies that oversee the Independent Foreclosure Review. This foreclosure review is different …

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Low Home Prices and Relatively Weak Dollar Lure International Buyers

According to the National Association of Realtors (NAR), the total U.S. residential international sales for the 12 months ending March 2012 reached $82.5 billion, an increase from $66.4 billion in the previous year. NAR attributes the continued growth of foreigners buying homes in the U.S. to the relative weakness of the dollar and low home …

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