Archive for September 2010

Mortgage rates hit decades low of 4.32%

Sep 5th, 2010 | By Gregory Arzumanov | Category: Financial News

Sept. 3, 2010 Mortgage rates fell to the lowest level in decades for the tenth time in 11 weeks, as investors worried about the economy.
The average rate for a 30-year fixed loan was 4.32 percent this week, down from 4.36 percent last week, mortgage buyer Freddie Mac said Thursday. Thats the [...]



Higher closing costs may not be

Sep 2nd, 2010 | By Gregory Arzumanov | Category: Financial News

WASHINGTON Aug. 31, 2010 A new federal rule this year requiring mortgage lenders to give borrowers reliable estimates of closing costs appears to be working whether its also costing borrowers more money is uncertain.
A recent survey by Bankrate.com found that, on average, origination and third-party fees on a [...]



Home prices up 1% in June

Sep 2nd, 2010 | By Gregory Arzumanov | Category: Housing News

U.S. home prices rose in June for the third straight month amid a burst of homebuying due to tax incentives that have since expired.
The Standard & Poors/Case-Shiller 20-city home price index posted a 1 percent increase in June from May and was up 4.2 percent from a year ago. Home prices [...]