Morning Minute: Mortgage rates fall for fourth consecutive week

Mortgage interest rates declined for the fourth straight week, with the 30-year, fixed-rate falling to an average of 4.32 percent for the week of Jan. 30, Freddie Mac reported this morning. The 15-year, fixed rate dropped to 3.40 percent.

Freddie Mac attributes some of the easing of mortgage rates to lower new home sales in December and a slight drop in the S&P/Case Shiller price index in November, but the lower rates are a boon for prospective home buyers looking to lock in lower rates.

In other headlines:

Finally, Some Exceptionally Good News About Foreclosures – Time

Obama Calls for Action on Mortgage Finance Reform – REALTOR® Magazine

Fixed-rate mortgages tumble in popularity – HousingWire

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.

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