Mortgage rates were little changed this week, with the average 30-year fixed mortgage rate remaining at 5.23 percent. According to Bankrate.com's weekly national survey, the average 30-year fixed mortgage has an average of 0.41 discount and origination points. The average 15-year fixed rate mortgage dipped to 4.73 percent, while the average jumbo 30-year fixed rate rebounded to 6.65 percent. Adjustable rate mortgages were broadly lower, with the average 1-year ARM sinking to 5.12 percent while the ... [full story]

Mortgage rates were mixed this week, with the average 30-year fixed mortgage rate inching upward to 5.23 percent. According to Bankrate.com's weekly national survey, the average 30-year fixed mortgage has an average of 0.47 discount and origination points. The average 15-year fixed rate mortgage rose to 4.76 percent, while the average jumbo 30-year fixed rate dropped sharply to 6.52 percent. Adjustable rate mortgages were all over the map, with the average 1-year ARM rising to ... [full story]

Homes for seniors are undergoing design changes. Builders and architects are focusing on new and innovative concepts, making senior-oriented homes more comfortable and convenient for aging residents. Consumer demand is driving the changes, and those senior consumers have growing clout in the real estate marketplace. Their strength is in their current and projected numbers. The number of seniors age 65 to 74 is projected to increase by at least 4 percent each year over the ... [full story]

Housing affordability is rising dramatically. The relationship between home prices, mortgage interest rates, and family income is the most favorable since 1970, says a report by the National Association of Realtors. A family earning the median annual income of $59,800 can now afford a home costing $283,400, with a 20 percent down payment, the report said. This assumes that the buying family is paying 25 percent of their gross income on mortgage principal and interest ... [full story]

Laws that are unfriendly to homeownership make life more difficult need be for many Americans in danger of foreclosure, says a recent report from the National Consumer Law Center. Many states have taken steps in recent years to strengthen the right of renters, but only a handful of states have updated their home-foreclosure laws that are now tilted against homeowners, the report noted. Based on a survey of existing state laws, the report identifies some ... [full story]

Mortgage rates fell this week, with the average 30-year fixed mortgage rate dropping to 5.29 percent. According to Bankrate.com's weekly national survey, the average 30-year fixed mortgage has an average of 0.33 discount and origination points. The average 15-year fixed rate mortgage inched lower to 4.86 percent and the average jumbo 30-year fixed rate slid to 6.88 percent. Adjustable rate mortgages were lower also, with the average 1-year ARM pulling back to 5.48 percent ... [full story]

Real estate industry leaders are excited about the potential of President Barack Obama’s Homeowner Affordability and Stability Plan. The primary objective of the plan is to help millions of homeowners at risk of losing their homes via foreclosure. The problem being addressed by Obama’s plan was summarized in a report from the U.S. Treasury Department. Many responsible families who make their monthly payments have seen their property values fall, and are consequently now unable to ... [full story]

Mortgage rates were largely unchanged from one week ago, with the average 30-year fixed mortgage rate remaining at 5.41 percent. According to Bankrate.com’s weekly national survey, the average 30-year fixed mortgage has an average of 0.41 discount and origination points. The average 15-year fixed rate mortgage inched up to 4.94 percent and the average jumbo 30-year fixed rate dipped to 6.77 percent. Adjustable rate mortgages were mixed, with the average 1-year ARM pulling back to ... [full story]

Pending home sales declined on the heels of a weakening economy and with some buyers waiting for clarity on housing stimulus provisions, according to the National Association of Realtors. The Pending Home Sales Index,1 a forward-looking indicator based on contracts signed in January, fell 7.7 percent to 80.4 from a downwardly revised reading of 87.1 in December, and is 6.4 percent below January 2008 when it was 85.9. The index is at the lowest level ... [full story]

Log homes, firmly ingrained in our nation's history, are still very popular with today's buyers — particularly with those seeking a second or vacation home. The most famous of all log cabins is the birthplace of Abraham Lincoln. The spotlight is on that tiny cabin more than ever this year, as we observe the bicentennial of Lincoln's birth. That cabin had only one room, one door, one window with no glass in it, and a ... [full story]

When home sellers cannot afford to wait the required time needed to sell a home the conventional way, they often turn to auctioning their property. The auctioning of residential properties is the fastest growing niche in the auction industry. About $17 billion in auctioned home sales were finalized in 2007, the last year figures have been tabulated. That reflects an increase of 46.6 percent over the volume of homes auctioned in 2003, according to the ... [full story]

Fixed mortgage rates were largely unchanged this week. The average conforming 30-year fixed mortgage rate backtracked to 6.13 percent, according to Bankrate.com's weekly national survey of large lenders. The average 30-year fixed mortgage has an average of 0.40 discount and origination points. The average 15-year fixed rate mortgage popular for refinancing was unchanged at 5.71 percent, while the average jumbo 30-year fixed rate remains 7.35 percent. Adjustable mortgage rates retreated, with the average 5/1 ARM ... [full story]

Q: My husband and I just had twins, and the house that we purchased two years ago is way too small now. We tried selling it privately but with the market today, the offers that we received were very low, about $35,000 less than what is owed on our current mortgage. I know that walking away from our current home would be irresponsible on our part, but we are not able to sell for what ... [full story]