US Mortgage Rates Drop Marginally Under 5 Percent

News from Freddie Mac reported that this week the average rate on the 30-year loan slipped to 4.95 percent from 5 percent

Freddie Mac

But this is now only one week, what will happen next week, next month, next quarter and next year!

As we have showcased many times there is zero market confidence – fraud and scams are sill hogging the headlines and the home buyers market is at the bottom with flat lining sales

Purchases of new homes plunged 13 percent last month!

Foreclosures continue to depress the market and weigh on prices. They represented 37 percent of all previously owned home sales in January 2011

β€˜The US home market is rocking and a reeling – and now thanks to turmoil in Libya and all over the Middle East oil prices at the pumps are on the rise!’

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