ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/12/2011

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/12/2011

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/12/2011 list has been posted.

CLICK HERE FOR YOUR PERSONALIZED REPORT OF ACTIVE REAL ESTATE FORECLOSURES

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE

These are Single Family Homes ‘Active’ on the Birmingham MLS. These homes

are ripe for the picking. Don’t Let them pass you by. ACT NOW!!

I hope you have an awesome day, packed with smiles while searching for your active Birmingham AL Real Estate Dream.

OPEN HOUSE TOMORROW 2PM —– 205 CAROL DRIVE BIRMINGHAM, AL  35215

OPEN HOUSE SCHEDULED FOR 2PM – 4PM ON SUNDAY, NOVEMBER 13, 2011 

PRICED TO SELL QUICKLY – 10K UNDER MARKET VALUE  This charming 3 Bedroom 1 Bath home is perfectly situated in one of the most tranquil suburban subdivisions that Greater Birmingham has to offer. From the flowing Family/Dining Room to the kitchen loaded with storage capacity, hardwood laminate flooring and functionality conveniences, this home IS YOUR DREAM COME TRUE. Recently Renovated and Upgraded, this home has all the comforts that one could dream of. The Garage Area offers a standalone Utility Room adjacent to an expansive outside expansive deck which overlooks the lush green grass of a sizable backyard. There is a Children’s Play-Set already installed under massive Dogwood Trees with a fenced in area for FIDO’s enjoyment. The basement is accessible from the Rear of the property. Basement is complete with plumbing hookups. All appliances in the kitchen will convey. SELLER IS MOTIVATED, SO BRING ALL OFFERS!!!

DIRECTIONS:  FROM 2/59, EXIT 134, NORTH ON ROEBUCK PKWY/AL-75, WEST ON US11/PARKWAY EAST, NORTH ON SHOPPING PLAZA/ROEBUCK PLAZA DR (END OF WALMART PARKING LOT). WEST ON DALTON, NORTH ON ANNIE LAURA DR, WEST ON CAROL DRIVE, PROPERTY IS 1/8 MILE ON LEFT

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/09/2011 PM VERSION

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/09/2011

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/09/2011 list has been posted.

CLICK HERE FOR YOUR PERSONALIZED REPORT OF ACTIVE REAL ESTATE FORECLOSURES

OR visit http://www.propertiesinbirmingham.com/search/

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

These are Single Family Homes ‘Active’ on the Birmingham MLS. These homes

are ripe for the picking. Don’t Let them pass you by. ACT NOW!!

I hope you have an awesome day, packed with smiles while searching for your active Birmingham AL Real Estate Dream.

U.S. home values were virtually flat in the third quarter compared to the second quarter, though they fell on a year-over-year basis, according to the latest quarterly report from property valuation site Zillow. Nationally, home values dipped 0.2 percent in the third quarter from the previous quarter, and declined 4.4 percent from third-quarter 2010, to $171,500. That represents a 28.8 percent decline from a June 2006 peak.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

“While we still have a ways to go in terms of home-value depreciation, the pace at which home values are falling has declined considerably during the course of this year. This slower pace signals that a stabilization is on the horizon,” the report said. Zillow said it expects home values to decline another 3 to 5 percent before reaching a definitive bottom, possibly in 2012.

“We’re clearly dealing with a crisis of confidence that is keeping potential buyers on the sidelines, fueled largely by high unemployment and more general economic uncertainty,” said Stan Humphries, Zillow’s chief economist, in a statement. “That said, given the steady drumbeat of recent negative economic news, home values held up better than would be expected. We have been forecasting a housing bottom in 2012, at the earliest, and third-quarter data further confirms this forecast.”

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

Of the 157 metropolitan areas tracked by Zillow, 67 percent saw home values decline on a quarterly basis and 86 percent saw values decline on an annual basis. Of the 25 largest metro areas, all except Pittsburgh saw year-over-year decreases. Sacramento, Calif., posted the biggest drop, down 11.2 percent, followed by Atlanta, down 10.5 percent.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

Pittsburgh saw home values appreciate by 3.2 percent year over year. Pittsburgh was also the only metro among the 25 to post a quarterly increase above 1 percent (1.2 percent). Pittsburgh had the smallest negative equity rate among the 25, at 7.1 percent. Its home values have remained essentially flat since that market’s peak, down 0.7 percent.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/09/2011

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/09/2011

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/09/2011 list has been posted.

CLICK HERE FOR YOUR PERSONALIZED REPORT OF ACTIVE REAL ESTATE FORECLOSURES

OR visit http://www.propertiesinbirmingham.com/search/

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

These are Single Family Homes ‘Active’ on the Birmingham MLS. These homes

are ripe for the picking. Don’t Let them pass you by. ACT NOW!!

I hope you have an awesome day, packed with smiles while searching for your active Birmingham AL Real Estate Dream.

U.S. home values were virtually flat in the third quarter compared to the second quarter, though they fell on a year-over-year basis, according to the latest quarterly report from property valuation site Zillow. Nationally, home values dipped 0.2 percent in the third quarter from the previous quarter, and declined 4.4 percent from third-quarter 2010, to $171,500. That represents a 28.8 percent decline from a June 2006 peak.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

“While we still have a ways to go in terms of home-value depreciation, the pace at which home values are falling has declined considerably during the course of this year. This slower pace signals that a stabilization is on the horizon,” the report said. Zillow said it expects home values to decline another 3 to 5 percent before reaching a definitive bottom, possibly in 2012.

“We’re clearly dealing with a crisis of confidence that is keeping potential buyers on the sidelines, fueled largely by high unemployment and more general economic uncertainty,” said Stan Humphries, Zillow’s chief economist, in a statement. “That said, given the steady drumbeat of recent negative economic news, home values held up better than would be expected. We have been forecasting a housing bottom in 2012, at the earliest, and third-quarter data further confirms this forecast.”

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

Of the 157 metropolitan areas tracked by Zillow, 67 percent saw home values decline on a quarterly basis and 86 percent saw values decline on an annual basis. Of the 25 largest metro areas, all except Pittsburgh saw year-over-year decreases. Sacramento, Calif., posted the biggest drop, down 11.2 percent, followed by Atlanta, down 10.5 percent.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

Pittsburgh saw home values appreciate by 3.2 percent year over year. Pittsburgh was also the only metro among the 25 to post a quarterly increase above 1 percent (1.2 percent). Pittsburgh had the smallest negative equity rate among the 25, at 7.1 percent. Its home values have remained essentially flat since that market’s peak, down 0.7 percent.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/08/2011 PM EDITION

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/08/2011 PM EDITION

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/08/2011 PM EDITION list has been posted.

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OR visit http://www.propertiesinbirmingham.com/search/

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

These are Single Family Homes ‘Active’ on the Birmingham MLS. These homes

are ripe for the picking. Don’t Let them pass you by. ACT NOW!!

I hope you have an awesome day, packed with smiles while searching for your active Birmingham AL Real Estate Dream.

U.S. single-family home prices declined on both a monthly and annual basis in September — the second straight month that property data firm CoreLogic reported a decline in both measures. CoreLogic’s price index fell 4.1 percent year over year and dropped 1.1 percent on a month-to-month basis in September, according to a company report released today. That follows a 4.4 percent annual decline and a revised 0.3 percent monthly decline in August.

Excluding distressed sales, defined as short sales and real estate owned (REO) sales, the national index fell 1.1 percent year over year in September and fell a revised 2.2 percent year over year in August. In a statement, Mark Fleming, CoreLogic’s chief economist, said the company expects “declines to continue through the winter.”

“Distressed sales remain a significant share of homes that do sell and are driving home prices overall,” he added. Among the 10 most populous metropolitan areas in the country, all but two saw index declines in September: Washington, D.C.; and New York-White Plains-Wayne, N.Y.-N.J. When distressed sales were excluded, half experienced index declines.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

As in August, 38 states experienced year over year index drops in September. Eight states and Washington, D.C., saw index rises of more than 1 percent. West Virginia led the way with a 7 percent annual rise.

At the other end of the spectrum, Nevada was the only state to see a double-digit index drop in September, down 12.4 percent. When distressed sales were excluded, 33 states and Washington, D.C., saw flat or rising home prices.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/08/2011

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/08/2011

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/08/2011 list has been posted.

CLICK HERE FOR YOUR PERSONALIZED REPORT OF ACTIVE REAL ESTATE FORECLOSURES

OR visit http://www.propertiesinbirmingham.com/search/

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

These are Single Family Homes ‘Active’ on the Birmingham MLS. These homes

are ripe for the picking. Don’t Let them pass you by. ACT NOW!!

I hope you have an awesome day, packed with smiles while searching for your active Birmingham AL Real Estate Dream.

U.S. single-family home prices declined  on both a monthly and annual basis in September — the second straight month that property data firm CoreLogic reported a decline in both measures. CoreLogic’s price index fell 4.1 percent year over year and dropped 1.1 percent on a month-to-month basis in September, according to a company report released today. That follows  a 4.4 percent annual decline and a revised 0.3 percent monthly decline in August.

Excluding distressed sales, defined as short sales and real estate owned (REO) sales, the national index fell 1.1 percent year over year in September and fell a revised 2.2 percent year over year in August. In a statement, Mark Fleming, CoreLogic’s chief economist, said the company expects “declines to continue through the winter.”

“Distressed sales remain a significant share of homes that do sell and are driving home prices overall,” he added. Among the 10 most populous metropolitan areas in the country, all but two saw index declines in September: Washington, D.C.; and New York-White Plains-Wayne, N.Y.-N.J. When distressed sales were excluded, half experienced index declines.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

As in August, 38 states experienced year over year index drops in September. Eight states and Washington, D.C., saw index rises of more than 1 percent. West Virginia led the way with a 7 percent annual rise. At the other end of the spectrum, Nevada was the only state to see a double-digit index drop in September, down 12.4 percent. When distressed sales were excluded, 33 states and Washington, D.C., saw flat or rising home prices.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/07/2011

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/07/2011

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/07/2011 list has been posted.

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ACTIVE REAL ESTATE FORECLOSURES FOR SALE

These are Single Family Homes ‘Active’ on the Birmingham MLS. These homes

are ripe for the picking. Don’t Let them pass you by. ACT NOW!!

I hope you have an awesome day, packed with smiles while searching for your active Birmingham AL Real Estate Dream.

Homeowners whose lenders played fast and loose with their foreclosures may be in for a payday. More than 4 million mortgage borrowers who were foreclosed on between 2009 and 2010 will have a chance to request an independent review of how their foreclosure process was handled, according to Joe Evers, the deputy comptroller for large banks at the Office of the Comptroller of the Currency (OCC).

Should the review find that “financial injury” occurred as a result of an error or other deficiencies in the way the foreclosure process was handled, the homeowner may receive compensation for their losses. However, just how much money the borrower will receive has yet to be determined, said Evers.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

The reviews are part of a larger enforcement action taken against 14 large mortgage servicers last April by the OCC, the Federal Reserve and Office of Thrift Supervision in the wake of the “robo-signing” scandal. As part of that action, the lenders, which include Bank of America (BAC, Fortune 500), Chase (JPM, Fortune 500), Citibank (C, Fortune 500), GMAC Mortgage, HSBC (HBC) Finance, Wachovia, Washington Mutual and Wells Fargo (WFC, Fortune 500), agreed to clean up their foreclosure practices and repay victims.

When foreclosures flooded the system after the housing bust, many mortgage servicers became more cavalier in the way they handled foreclosures. Affidavits and other documents were signed by low-level employees who had little or no knowledge of what they were attesting to, attorneys hired to manage the foreclosure process were providing inadequate oversight and many bank employees were ignoring requirements to halt foreclosure procedures if loans were in the modification process.

The mortgage servicers agreed to review foreclosure cases that occurred between January 1, 2009 and December 31, 2010 and determine if borrowers suffered financial losses as a result of any of these practices. Letters will be sent to borrowers starting Tuesday that will explain how to request case reviews. Foreclosures must have been on primary residences. Borrowers have until April 30, 2012 to request reviews.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/06/2011

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/06/2011

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/06/2011 list has been posted.

CLICK HERE FOR YOUR PERSONALIZED REPORT OF ACTIVE REAL ESTATE FORECLOSURES

OR visit http://www.propertiesinbirmingham.com/search/

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

These are Single Family Homes ‘Active’ on the Birmingham MLS. These homes

are ripe for the picking. Don’t Let them pass you by. ACT NOW!!

I hope you have an awesome day, packed with smiles while searching for your active Birmingham AL Real Estate Dream.

Homeowners whose lenders played fast and loose with their foreclosures may be in for a payday. More than 4 million mortgage borrowers who were foreclosed on between 2009 and 2010 will have a chance to request an independent review of how their foreclosure process was handled, according to Joe Evers, the deputy comptroller for large banks at the Office of the Comptroller of the Currency (OCC).

Should the review find that “financial injury” occurred as a result of an error or other deficiencies in the way the foreclosure process was handled, the homeowner may receive compensation for their losses. However, just how much money the borrower will receive has yet to be determined, said Evers.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

The reviews are part of a larger enforcement action taken against 14 large mortgage servicers last April by the OCC, the Federal Reserve and Office of Thrift Supervision in the wake of the “robo-signing” scandal. As part of that action, the lenders, which include Bank of America (BAC, Fortune 500), Chase (JPM, Fortune 500), Citibank (C, Fortune 500), GMAC Mortgage, HSBC (HBC) Finance, Wachovia, Washington Mutual and Wells Fargo (WFC, Fortune 500), agreed to clean up their foreclosure practices and repay victims.

When foreclosures flooded the system after the housing bust, many mortgage servicers became more cavalier in the way they handled foreclosures. Affidavits and other documents were signed by low-level employees who had little or no knowledge of what they were attesting to, attorneys hired to manage the foreclosure process were providing inadequate oversight and many bank employees were ignoring requirements to halt foreclosure procedures if loans were in the modification process.

The mortgage servicers agreed to review foreclosure cases that occurred between January 1, 2009 and December 31, 2010 and determine if borrowers suffered financial losses as a result of any of these practices. Letters will be sent to borrowers starting Tuesday that will explain how to request case reviews. Foreclosures must have been on primary residences. Borrowers have until April 30, 2012 to request reviews.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL- 11/05/2011

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/05/2011

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/05/2011 list has been posted.

CLICK HERE FOR YOUR PERSONALIZED REPORT OF ACTIVE REAL ESTATE FORECLOSURES

OR visit http://www.propertiesinbirmingham.com/search/

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

These are Single Family Homes ‘Active’ on the Birmingham MLS. These homes

are ripe for the picking. Don’t Let them pass you by. ACT NOW!!

I hope you have an awesome day, packed with smiles while searching for your active Birmingham AL Real Estate Dream.

Homeowners whose lenders played fast and loose with their foreclosures may be in for a payday. More than 4 million mortgage borrowers who were foreclosed on between 2009 and 2010 will have a chance to request an independent review of how their foreclosure process was handled, according to Joe Evers, the deputy comptroller for large banks at the Office of the Comptroller of the Currency (OCC).

Should the review find that “financial injury” occurred as a result of an error or other deficiencies in the way the foreclosure process was handled, the homeowner may receive compensation for their losses. However, just how much money the borrower will receive has yet to be determined, said Evers.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

The reviews are part of a larger enforcement action taken against 14 large mortgage servicers last April by the OCC, the Federal Reserve and Office of Thrift Supervision in the wake of the “robo-signing” scandal. As part of that action, the lenders, which include Bank of America (BAC, Fortune 500), Chase (JPM, Fortune 500), Citibank (C, Fortune 500), GMAC Mortgage, HSBC (HBC) Finance, Wachovia, Washington Mutual and Wells Fargo (WFC, Fortune 500), agreed to clean up their foreclosure practices and repay victims.

When foreclosures flooded the system after the housing bust, many mortgage servicers became more cavalier in the way they handled foreclosures. Affidavits and other documents were signed by low-level employees who had little or no knowledge of what they were attesting to, attorneys hired to manage the foreclosure process were providing inadequate oversight and many bank employees were ignoring requirements to halt foreclosure procedures if loans were in the modification process.

The mortgage servicers agreed to review foreclosure cases that occurred between January 1, 2009 and December 31, 2010 and determine if borrowers suffered financial losses as a result of any of these practices. Letters will be sent to borrowers starting Tuesday that will explain how to request case reviews. Foreclosures must have been on primary residences. Borrowers have until April 30, 2012 to request reviews.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/04/2011

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/04/2011

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/04/2011 list has been posted.

CLICK HERE FOR YOUR PERSONALIZED REPORT OF ACTIVE REAL ESTATE FORECLOSURES

OR visit http://www.propertiesinbirmingham.com/search/

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

These are Single Family Homes ‘Active’ on the Birmingham MLS. These homes

are ripe for the picking. Don’t Let them pass you by. ACT NOW!!

I hope you have an awesome day, packed with smiles while searching for your active Birmingham AL Real Estate Dream.

Mortgage rates sagged this week as ongoing concerns about the European debt crisis had investors fleeing to the relative safety of mortgage-backed securities that fund most U.S. home loans. Rates on 30-year fixed-rate mortgages averaged 4 percent with an average 0.7 point for the week ending Nov. 3, down from 4.1 percent last week, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey.

At this time a year ago, rates on 30-year fixed-rate mortgages averaged 4.24 percent before climbing to a 2011 high of 5.05 percent in February. Rates on the “plain vanilla” fixed-rate loan hit an all-time low in records dating to 1971 of 3.94 percent during the week ending Oct. 6. Rates on 15-year fixed-rate mortgages averaged 3.31 percent with an average 0.7 point, down from 3.38 percent last week. The 15-year fixed-rate loan averaged 3.63 percent at this time last year before climbing to a 2011 high of 4.29 percent in February.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

Looking back a week, a separate survey by the Mortgage Bankers Association showed a modest increase in demand for purchase mortgages. The MBA’s Weekly Mortgage Applications Survey showed requests for purchase loans were up a seasonally adjusted 1.8 percent from the previous week, ending Oct. 28. Demand for purchase loans was down 2.1 percent from a year ago, and requests to refinance accounted for 77.1 percent of all mortgage applications.

The the 15-year loan, a popular refinancing option, hit an all-time low, in records dating to 1991, of 3.26 percent during the week ending Oct. 6.Rates on five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans averaged 2.96 percent with an average 0.6 point, down from 3.08 percent last week. In an Oct. 17 forecast, economists at Fannie Mae said they expect rates on 30-year fixed-rate mortgage loans to average 4 percent next year and 4.2 percent in 2013.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/04/2011

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/04/2011

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 11/04/2011 list has been posted.

CLICK HERE FOR YOUR PERSONALIZED REPORT OF ACTIVE REAL ESTATE FORECLOSURES

OR visit http://www.propertiesinbirmingham.com/search/

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

These are Single Family Homes ‘Active’ on the Birmingham MLS. These homes

are ripe for the picking. Don’t Let them pass you by. ACT NOW!!

I hope you have an awesome day, packed with smiles while searching for your active Birmingham AL Real Estate Dream.

Mortgage rates sagged this week as ongoing concerns about the European debt crisis had investors fleeing to the relative safety of mortgage-backed securities that fund most U.S. home loans. Rates on 30-year fixed-rate mortgages averaged 4 percent with an average 0.7 point for the week ending Nov. 3, down from 4.1 percent last week, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey.

At this time a year ago, rates on 30-year fixed-rate mortgages averaged 4.24 percent before climbing to a 2011 high of 5.05 percent in February. Rates on the “plain vanilla” fixed-rate loan hit an all-time low in records dating to 1971 of 3.94 percent during the week ending Oct. 6. Rates on 15-year fixed-rate mortgages averaged 3.31 percent with an average 0.7 point, down from 3.38 percent last week. The 15-year fixed-rate loan averaged 3.63 percent at this time last year before climbing to a 2011 high of 4.29 percent in February.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE

Looking back a week, a separate survey by the Mortgage Bankers Association showed a modest increase in demand for purchase mortgages. The MBA’s Weekly Mortgage Applications Survey showed requests for purchase loans were up a seasonally adjusted 1.8 percent from the previous week, ending Oct. 28. Demand for purchase loans was down 2.1 percent from a year ago, and requests to refinance accounted for 77.1 percent of all mortgage applications.

The the 15-year loan, a popular refinancing option, hit an all-time low, in records dating to 1991, of 3.26 percent during the week ending Oct. 6.Rates on five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans averaged 2.96 percent with an average 0.6 point, down from 3.08 percent last week.  In an Oct. 17 forecast, economists at Fannie Mae said they expect rates on 30-year fixed-rate mortgage loans to average 4 percent next year and 4.2 percent in 2013.