Market & Interest Rates Updates

Applications to purchase homes increased 6.3 percent last week compared to the previous week on a seasonally adjusted basis, according to the Mortgage Bankers Association weekly survey.

On an unadjusted basis, purchases rose 4 percent compared to the previous week, but were down 38.8 percent from the same week a year ago.

Mortgage rates rose slightly last week:

30-year fixed-rate mortgages increased to 4.5 percent (from 4.43 percent).
15-year fixed-rate mortgages increased to 4 percent (from 3.88 percent).
1-year ARMs increased to 7 percent (from 6.95 percent).

What will the economy and the real estate market be like a month from now?

Natalie Flaming
Realtor - Broker Associate
The VIP Team
Metro First Realty
Natalie@TheVIPofOKC.com
www.TheVIPofOKC.com

Government rethinks homeownership policies

For 70 years (and especially the last 15) the government has stepped in to help Americans buy their own homes, doing "Whatever it takes". Now, policymakers are reconsidering their role. Over the next few months, they'll weigh whether there can be too much of a good thing, when it comes to helping families finance the American Dream. What do you think? Read the article and give your opinion...

http://www.usatoday.com/money/economy/housing/2010-08-11-housing11_cv_N.htm
(If the link is not working, please copy & paste it into your browser.)



Natalie Flaming
Realtor- Broker Associate
The VIP Team
Metro First Realty
www.TheVIPofOKC.com