MSNBC reports Rates on 15- and 30-year mortgages tumble

5-year mortgage rate dips below 4% for first time in three months

By JANNA HERRON

NEW YORK — Fixed mortgage rates tumbled this week and the 15-year loan dipped below 4 percent for the first time in three months. Rates followed the yield on U.S. Treasury bonds, which fell on worries that the crisis in Japan could slow economic growth.

Freddie Mac said Tuesday the average rate on the 15-year fixed mortgage, a popular refinance option, dropped to 3.97 percent from 4.15 percent. The last time the rate was below 4 percent was in mid-December. It reached 3.57 percent in November, the lowest level on records dating back to 1991. CLICK HERE FOR FULL Article

CNN money Reports- 1 million homes reposessed in 2010

1 million homes repossessed in 2010

By Les Christie, staff writer--January 13, 2011: 10:05 AM ET

NEW YORK (CNNMoney) -- Foreclosures were at a record high in 2010, and more than 1 million people lost their homes, even as notices started leveling off during the end year.
In total, there were nearly 2.9 million foreclosure notices filed during the year, according to report released Thursday by RealtyTrac. That was a record high, but just 1.7% above 2009.

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CNN Money- Panel of Experts Debate Over Housing Prices in 2011, Will They Drop?

Former HUD Official Offers Advice to Home Buyers

Former HUD secretary Cisneros weighs in on how to help home buyers

Henry Cisneros addresses the CEO Technology Summit in San Antoinio, in this Aug. 4, 2000, file photo. (William Luther - AP)

By Katherine Salant

Friday, December 10, 2010; 9:23 AM

How can homeownership be a more sustainable proposition for middle- and low-income households? When I posed this question to former Housing and Urban Development secretary Henry G. Cisneros, his response was immediate and surprising.

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