Short Sales

15-Year Fixed Mortgage Rate Falls Below 3% for the First Time on Record

For the first time in Freddie Mac’s Primary Mortgage Market Survey, the average 15-year fixed mortgage rate fell to a record low; while the 30-year fixed mortgage rate dropped to a new all-time record low for the fifth consecutive week. Based on Freddie Mac’s latest Primary Mortgage Market Survey which was released last May 31, …

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Maryland’s April Existing-Home Sales Decline, Home Prices Rise

Existing-home sales in Maryland declined in April this year, while home prices rose, this according to the Maryland Association of Realtors (MAR). In April this year in Maryland, existing-home sales reached 4,546. This is down by 2.2% compared to the data in the same period last year with 4,649 existing-home sales. Existing-home sales are completed …

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One Third of U.S. Mortgage Borrowers still Underwater

Thirty-one percent or close to 16 million homeowners in the U.S. were underwater on their mortgage during the first three months of this year, this according to Zillow. Zillow reported that the typical U.S. mortgage borrowers owe $75,644 more or 44.5% more on what their house is worth. Despite the fact that one third of …

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