The Mortgage Week In Review
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30-year fixed-rate is lowest since March 2004
The 30-year fixed-rate mortgage averaged 5.47% for the week ending Dec. 11, down from last week’s 5.53% average and 6.11% a year ago. The rate hasn’t been lower since March 25, 2004, when it averaged 5.40%.
Foreclosures Boost Pending Home Sales
Despite early indications of more housing market gloom October, pending home sales were not as low as many predicted.
How bad is Oregon’s mortgage market?
It’s growing worse but not as bad as it was here in the 1980s and not bad as the country as a whole.
Treasury may set mortgage rates at 4.5% to boost sales
The Treasury Department is contemplating a proposal that would cut mortgage rates for new loans for homes, the Wall Street Journal says.
Easing Mortgages Isn’t a Panacea
Many troubled homeowners are quickly falling behind again on their mortgage after their loan is modified, government data show.
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