Zillow PR corrects rates in new release

January 13, 2009

images-7

News Release Issued: January 13, 2009 11:24 AM EST

/C O R R E C T I O N — Zillow.com/

 

In the news release, Thirty-Year Fixed Rates Back Below 5.00%, issued

13-Jan-2009 by Zillow.com over PR Newswire, we are advised by the company

that the fifth paragraph, second sentence, should read “Rates on 30-year

fixed mortgages were lowest in the states of Arizona (4.80%) and Georgia

(4.81%), while Maryland (4.97%), Illinois (4.97%), Minnesota (4.97%) and

Michigan (5.05%) had the highest rates” rather than “Rates on 30-year fixed

mortgages were lowest in the states of Arizona (4.80%) and Texas (4.84%),

while Maryland (4.97%) and Michigan (5.05%) had the highest rates” as

originally issued inadvertently. The complete, corrected release follows:

 

Thirty-Year Fixed Rates Back Below 5.00%

 

Low Rates Drive Refinance Requests on Zillow Mortgage Marketplace,

 

According to Zillow Mortgage Rate Monitor

 

SEATTLE, Jan. 13 /PRNewswire/ — Thirty-year mortgage rates fell last week to

4.92 percent and the low rates that have persisted for the last month

attracted thousands of homeowners hoping to refinance to Zillow Mortgage

Marketplace in December and early January.

 

(Logo: http://www.newscom.com/cgi-bin/prnh/20060503/ZILLOWLOGO)

 

Requests to refinance normally make up about one-third of all loan requests

on Zillow Mortgage Marketplace, but in December they made up 67 percent. So

far in January, they have made up 62 percent. The total number of requests

also increased more than 150 percent from November to December. 

 

The weekly average rates for 30-year fixed mortgages decreased to 4.92

percent last week, down from 5.10 percent the week prior, according to the

Zillow Mortgage Rate Monitor, compiled by leading real estate Web site

Zillow.com. Meanwhile, rates for 15-year fixed mortgages decreased to 4.58

percent, down from 4.79 percent and 5-1 adjustable rate mortgages decreased

to 5.35 percent from 5.62 percent.

 

     Mortgage Type      Average Rate          Average Rate        % Change

                       Week ending 1/11/09   Week ending 1/4/09

    30-year fixed                  4.92%               5.10%         -3.6%

    15-year fixed                  4.58%               4.79%         -4.5%

    5-1 ARM                        5.35%               5.62%         -4.8%

 

Rates for 30-year fixed mortgages fell far below 5.00% again on Monday

evening, with the average rate on Zillow Mortgage Marketplace at 4.86

percent.

 

At a state level, the 30-year fixed mortgage rates in Maryland and Virginia

had the biggest decreases, dropping from 5.26 percent to 4.97 percent and

5.21 percent to 4.93 percent, respectively. Rates on 30-year fixed mortgages

were lowest in the states of Arizona (4.80%) and Georgia (4.81%), while

Maryland (4.97%), Illinois (4.97%), Minnesota (4.97%) and Michigan (5.05%)

had the highest rates. images-8

 

      State          Average 30-yr. Fixed     Average 30-yr. Fixed   % Change

                           Rate                        Rate

                        Week ending 1/11/09    Week ending 1/4/09

    Georgia                         4.81%                  4.99%                                -3.6%

Leave a Comment » | Uncategorized | Tagged: , , | Permalink
Posted by hankbailey

Smart Home Financing; A List of Resources

January 13, 2009

financiallysavvy

 

 

There has never been a tool that has provided such a vast array of resources to build your financial skills and guide you through the home financing process as the Web.  Listed below are some key websites to assist you in building your knowledge of personal finance as well as how to get yourself into position to buy a home. A special thanks to the NAR who provided these links;

 

 

Basic Finance

Home Financingfinancialsavvy

Traditional Mortgages: Understanding Your Options (PDF: 271Kb)
This brochure explains that traditional fixed-rate mortgages and adjustable-rate mortgages (ARMs) continue to be excellent options for most consumers.
Produced jointly by NAR and the Center for Responsible Lending.

Learn About FHA Mortgages (PDF: 456Kb)
This brochure outlines the changes to FHA, how to qualify for an FHA mortgage, and other resources available from FHA, HUD, and NAR.
Produced by NAR, the FHA, and the U.S. Department of Housing and Urban Development.

How to Avoid Forclosures and Keep Your Home (PDF: 1.7Mb)
This brochure will help you understand your options and give you tips on how to avoid losing your home–regardless of what kind of mortgage you have. Text-only version available (PDF 71Kb)

If you are looking to purchase a home in the Greater Athens area, please feel free to use this link to Search the Athens MLS! While on the Georgia MLS you can search for homes, create a User account to save favorite property searches, email property searches to friends and family, or request more information!

Leave a Comment » | Uncategorized | Tagged: , , , , , , , , , , , | Permalink
Posted by hankbailey