Foreclosures dropped in Valley in 2011, but still higher than normal - One of the better developments in the year-end findings was that foreclosures dropped to 35,855, down from 41,625 in 2010, according to the W. P. Carey School of Business at Arizona State University. That translated to foreclosures representing 34% of transactions - down from 39% in 2010. However, foreclosures account for less than 5% of transactions in a typical year. Read article:
http://www.eastvalleytribune.com/local/apache_junction/article_20b65acc-42f0-11e1-9ebf-001871e3ce6c.html
30-year Fixed-rate Mortgage Averages 3.88 Percent - In Freddie Mac's results of its Primary Mortgage Market Survey® the average mortgage rates changing little amid mixed economic data. Regardless, the 30-year fixed-rate mortgage (FRM) averaged 3.88% with an average 0.8 point for the week ending January 19, 2012, down from last week when it averaged 3.89%. Last year at this time, the 30-year FRM averaged 4.74%. Read article:
http://realtytimes.com/rtpages/20120120_freddierates.htm
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