Atlanta Real Estate:
Fixed Mortgage Rates Sink to Lowest on Record
Fixed mortgage rates fell to all-time record lows this week following the Federal Reserve's announcement of "Operation Twist." Data released by Freddie Mac Thursday puts the average 30-year fixed-rate mortgage at 4.01 percent for the week ending September 29, and the 15-year fixed-rate at 3.28 percent. Interest rates for adjustable-rate mortgages (ARMs), however, were virtually unchanged. The 5-year ARM averaged 3.02 percent and the 1-year ARM came in at 2.83 percent.

Atlanta Mortgage Rates:
Loan type
Conventional FHA Jumbo
30-year
3.875% 3.75% 4.5%
15-years
3.25% 3.5% 4.0%
5-year ARMS
3.0% 3.0% 3.5%
Call Mark Spain Today 770-886-9000

Atlanta Mortgage Rates:
www.markspain.com
Loan type
Conventional FHA Jumbo
30-year
3.875% 3.75% 4.5%
15-years
3.25% 3.5% 4.0%
5-year ARMS
3.0% 3.0% 3.5%
Call Mark Spain today 770-886-9000

Atlanta Real Estate:
www.markspain.com
Existing-Home Sales Jump Nearly 19% From Last Year
Last month's 18.6 percent surge in existing-home sales from a year earlier had some market observers doing a double-take. But the fact that the median home price was down more than 5 percent from August 2010.
Mark Spain 770-886-9000

Atlanta Mortgage Rates:
Conventional FHA Jumbo
30-year
3.75% 3.75% 4.375%
15-years
3.125% 3.5% 4.0%
5-year ARMS
3.0% 3.0% 3.5%
Call MArk Spain Today 770-886-9000

Atlanta Real Estate Mortgage Rates
Loan type
Conventional FHA Jumbo
30-year 4.0% 3.875% 4.75%
15-years 3.25% 3.5% 4.0%
5-year ARMS 3.0% 3.0% 3.5%
Call Mark Spain Today 770-886-9000

Atlanta Real Estate
Foreclosed Inventories Down by 17%
Banks held about 476,000 homes that they repossessed from delinquent mortgage borrowers as of the end of July, according to Barclays Capital. That tally represents a 17 percent contraction from 574,000 REOs on the books just 10 months earlier, in September of 2010. The average number of months a loan has spent in foreclosure has climbed from around 10 months just before October of last year to more than 12 months today.

Atlanta Mortgage Rates:

Conventional FHA Jumbo
30-year
4.0% 3.875% 4.75%
15-years
3.25% 3.5% 4.125%
5-year ARMS
3.0% 3.0% 3.5%
Call Mark Spain Today 770-886-9000

Atlanta Real Estate
Mortgage Rates Still Falling.
The 30-year fixed-rate mortgage and the 15-year fixed-rate mortgage both set new record lows this week. Freddie Mac's believes the new lows are the result of concerns surrounding the European debt market, which has driven investors to the safety of U.S. Treasury bonds and allowed mortgage rates to ease. Freddie Mac puts the average 30-year fixed rate at 4.09 percent and the 15-year rate at 3.30 percent.

Atlanta Mortgage Rates
Loan type
Conventional FHA Jumbo
30-year
4.0% 3.75% 5.0%
15-years
3.375% 3.5% 4.125%
5-year ARMS
3.0% 3.0% 3.5%
Call Mark Spain Today 770-886-9000
www.markspain.com

Atlanta Real Estate
www.markspain.com
Mortgage Rates Fall to New Record Lows.
Borrowing costs for home loans falling to new lows, slipping further from what was already reported as the lowest level for mortgage interest rates in more than a half-century. Freddie Mac now puts the average rate for a 30-year fixed mortgage at 4.12 percent and the 15-year rate at 3.33 percent.
Call Mrrk Spain Today 770-886-9000

Atlanta Real Estate
CMBS Delinquencies Decrease for Third Month in Past Four
After rising in July, CMBS delinquencies picked up their downward trend again in August, decreasing 36 basis points to 9.52 percent. This drop is the third in the past four months, according to analysis released by Trepp LLC, a provider of commercial real estate data. Serious delinquencies also declined for the month and now make up 8.79 percent of commercial mortgage loans.

Atlanta Georgia Real Estate Interest Rate Update
www.MarkSpain.com

Conforming
30 Yr. 4.125%
20 Yr. 3.875%
15 Yr. 3.375%
10 Yr Fixed 3.25%
5 Yr ARM 3.0%

Non Conforming
30 Yr. 4.75%
15 Yr. 4.0%
5 Yr. ARM 3.5%

FHA
30 Yr. 4.125%
15 Yr. 4.0%
5 Yr. ARM 3.0%

VA
30 Yr 4.125%
15 Yr. 4.0%
5 Yr. ARM 3.0%

Atlanta Real Estate
Mortgage Industry Headed for Recovery
The default risk associated with newly originated mortgages continues to improve, according to the analysts at University Financial Associates (UFA). The company's default risk index for the third quarter indicates that with today's economic conditions, lenders and investors should expect defaults on new loans to be 32 percent higher than loans from the 1990s. That's down from an elevated risk of 41 percent during the first part of this year.