MORTGAGE RATES – Rates on 30-year mortgages dropped for a third straight week to 5.69 percent – the lowest level since the summer of 2005 – as worries intensified about the current economic slowdown, according to Freddie Mac’s weekly nationwide survey.
MORTGAGES – In light of the subprime delinquency and foreclosure epidemic, the Federal Housing Administration believes it is relevant again. For example, officials have rolled out the FHASecure bailout plan,
intended to help Adjustable Rate Mortgage borrowers who can’t make their payments after their rates reset and who have trouble finding conventional lenders that are willing to lend at affordable rates.
REAL ESTATE TAXES – Hoping to boost voter support for Amendment 1, the real estate tax relief amendment that goes before voters on Jan. 29, Govenor Charlie Crist on Thursday proposed adding $138 million to state education spending to offset any losses from the measure.
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I hope the lower interest rates will help the housing market. The potential buyers waiting on the sidelines to buy a house should move now before it gets harder for them to get financing.
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