CHICAGO - Sept. 18, 2008 - The meltdown in the financial and housing markets continues to create a series of good news/bad news scenarios for consumers who either already own their own home or would like to buy one. Here’s how areas of the market are affected:
Fixed-rate mortgages: Interest rates on conventional fixed-rate mortgages continue [...]

In a chilled housing market where prices continue to cool, bank-owned foreclosure auctions offer buyers a fast, easy way to grab the best deals on the market. Lenders are eager to sell their foreclosed properties at auction at discounted prices to avoid the long-term carrying costs incurred by these loans. America’s most trusted foreclosure auction [...]

Existing-home sales - including single-family, townhomes, condominiums and co-ops - fell 2.6 percent to a seasonally adjusted annual rate of 4.86 million units in June from a pace of 4.99 million in May, and are 15.5 percent lower than the 5.75 million-unit rate in June 2007, according to the National Association of Realtors® (NAR).
NAR President [...]