McLEAN, VA -- Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 6.04 percent with an average 0.7 point for the week ending November 20, 2008, down from last week when it averaged 6.14 percent. Last year at this time, the 30-year FRM averaged 6.20 percent.
Bridging the price gap between Boston home buyers and sellers can be a challenge in today's market. Sellers, many of whom have a hard time accepting that their home has lost value, often expect to sell for more than buyers are willing to pay.
Buyers, on the other hand, are concerned that home prices could drop further. So, they're making sure that they don't overpay.
There are exceptions to the rule. Very desirable homes in the best locations sometimes sell for over the asking price,... (more)
It seems that the most-damaged housing markets – such as Phoenix, Miami, San Diego, and Las Vegas – only got worse in August, according to the S&P/Case Shiller home value 20-city index for August released today. That’s no surprise. What’s interesting to me is that cities such as Boston and Cleveland were climbing into positive territory (The ... (more)