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Condo Trends: Nationally, Prices Hold 1Q Despite Housing DownturnThe first quarter national report is finally out in September for existing condominium and cooperative sales from the National Association of Realtors and it seems condos have actually been quite resilient in an era of dropping prices and failing inventories. The NAR reports stable prices overall across the U.S., dropping an average of only 2.8 percent for the first quarter 2008, compared to the same time a year ago.
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Long-Term Mortgage Rates Barely Move this WeekFreddie Mac today released the results of its Primary Mortgage Market Survey PMMS in which the 30-year fixed-rate mortgage FRM averaged 6.10 percent with an average 0.6 point for the week ending October 2, 2008, up from last week when it averaged 6.09 percent. Last year at this time, the 30-year FRM averaged 6.37 percent.
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Updated: Tuesday, October 07, 2008
| Product |
Rate |
Change |
| 30 Year Fixed |
5.89% |
0.000% |
| 15 Year Fixed |
5.60% |
0.000% |
| 3/1 ARM |
5.71% |
0.000% |
| 5/1 ARM |
5.88% |
0.000% |
| FHA 30 Year Fixed |
6.19% |
0.000% |
| VA 30 Year Fixed |
5.94% |
0.000% |
DOW (^DJI) Index Value:
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1,056.89
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1,862.96
-84.43
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