30-Year Mortgage Rate Falls Below 5%

Mortgage rates dropped this week with the conforming 30-year fixed mortgage rate now 4.96%,according to Bankrate.com’s weekly national survey. The average 30-year fixed mortgage has an average of 0.44 discount and origination points. The average 15-year fixed mortgage retreated to 4.16%,and the larger jumbo 30-year fixed rate hit the low point of the year at 5.44%. Adjustable rate mortgages got in on the act,with the average 5-year ARM sinking to 3.7% and the 7-year ARM sliding to 4.03%.

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Existing-Home Sales Rise In March

Existing-home sales rose in March,continuing an uneven recovery that began after sales bottomed last July,according to the NATIONAL ASSOCIATION OF REALTORS®. Existing-home sales,including single-family,townhomes,condominiums,and co-ops,increased 3.7% to a seasonally adjusted annual rate of 5.10 million in March from an upwardly revised 4.92 million in February,but are 6.3% below the 5.44 million pace in March 2010. Sales were at elevated levels from March through June of 2010 in response to the home buyer tax credit.

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6 Reasons to Reduce Your Home Price

While you’d like to get the best price for your home,consider our six reasons to reduce your home price. These six signs may be telling you it’s time to lower your price. 1. You’re drawing few lookers

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