Thirty-Year Fixed-Rate Matches All-Time Low

Fixed mortgage rates started the year at or near their all-time record lows, according to market data published by Freddie Mac Thursday. The GSE reports the interest rate on a 30-year fixed mortgage averaged 3.91 percent (0.8 point) for the week ending January 5, 2012. That’s down from 3.95 percent the previous week and matches …

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Valuations and Sales Discounts Eat Away at Foreclosure Proceeds

Low property valuations and steep sales discounts reduce the proceeds from liquidated loans by almost a third, according to Moody’s Investors Service. As home prices drop, equity erosion drives most of the losses incurred on defaulted mortgage loans, but the analysts at Moody’s say in today’s environment that’s not the whole story. They maintain that …

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Don’t fixate on interest rates

Interest rates are low–really, really low. And artificially so, as time goes on, the government is slowly allowing some of the programs they imposed to keep rates low–to encourage buying and a housing recovery–to expire. But it seems that the lower rates go, the lower we want them to be. In the early 1980s, rates …

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California real estate market “struggling to gain momentum”

California home sales are expected to remain essentially flat this year and rise slightly in 2012, according to a housing market forecast from the CALIFORNIA ASSOCIATION OF REALTORS®. The trade group predicted California home sales this year will stay roughly flat compared with 2010, at 491,100 units — a relative improvement given the 10 percent …

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