[mEDITate-OR:
see what we thought you, too, would see...
after the stock market meltdown, money fled into TBills.
driving the price UP, and the yields down...
that should have resulted in the RE mortgage interest rates to drop.
and they did.
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Mortgage rates sink to five-month low
National average for a 30-year fixed loan is slips slightly to 4.93 percent
Mortgage rates fell this week to the lowest level of the year, as rates fell on U.S. government securities. Fixed mortgage rates closely track interest rates paid on long-term Treasury bonds.
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Ebbing foreclosure filings hint at plateau
Nationwide April foreclosure filings fell 9 percent from March
Foreclosure activity fell in April as lenders repossessed homes at a record pace but started far fewer new actions against struggling homeowners, signaling a plateau in loan failures, RealtyTrac said on Thursday.
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Home prices stabilize in 60% of U.S. cities
But foreclosures or distressed properties constitute 1 in 3 sales
Home prices rose in nearly 60 percent of U.S. cities in the first quarter of this year, as the housing market started to stabilize thanks to billions of dollars in federal spending.
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