Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 01/13/2012 list has been posted.
These are Single Family Homes ‘Active’ on the Birmingham MLS. These homes are ripe for the picking. DO NOT LET THEM PASS YOU BY…ACT NOW….BEFORE IT IS TOO LATE!!!
I hope you have an awesome day, packed with smiles while searching for your active Birmingham AL Real Estate Dream.
Mortgage rates continued to plumb new depths this week, but demand for purchase loans remains down from a year ago, lender surveys show. All types of mortgages tracked by Freddie Mac hit new lows during the week ending Jan. 12, the company said in releasing its latest Primary Mortgage Market Survey.
Rates on 30-year fixed-rate mortgages, which have been below 4 percent for six weeks in a row, hit a new low this week in records dating to 1971. The 30-year fixed-rate mortgage averaged 3.89 percent with an average 0.7 point, down from 3.91 percent last week and 4.71 percent a year ago.
For 15-year fixed-rate mortgages, rates averaged 3.16 percent with an average 0.8 point, down from 3.23 percent last week and 4.08 percent a year ago. Rates on 15-year loans, popular for refinancing, have never been lower since Freddie Mac began tracking them in 1991.
Rates on five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans averaged 2.82 percent with an average 0.7 point, down from 2.86 percent last week and 3.72 percent a year ago. That’s a new low in records dating to 2005. For one-year Treasury-indexed ARM loans, rates averaged 2.76 percent with an average 0.6 point, down from 2.8 percent last week and 3.23 percent a year ago.
Looking back a week, a separate survey by the Mortgage Bankers Association showed that demand for purchase loans during the week ending Jan. 6 was up a seasonally adjusted 8.1 percent from the week before. Purchase loan demand was down 17.9 percent from the same time a year ago. Requests to refinance accounted for 80.8 percent of all mortgage applications. Mortgage rates have been sliding because mortgage-backed securities (MBS) — bonds that fund the vast majority of home loans — have been popular with investors seeking a safe haven.