Mortgage Rates Update

News from Zip Realty:MORTGAGE RATESRates on 30-year-fixed mortgages dropped this week to their lowest levels in more than four years, an average of 5.47 percent, following a startling November unemployment report and a government plan to buoy the housing market.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n1-121208.cfm
CITIZENSBy the end of the year, over 386,000 policies will be removed from Citizens Property Insurance Corp., Florida's insurer of last resort, lowering risk to taxpayers. Citizens, however, still holds the state's riskiest policies.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n2-121208.cfm


MORTGAGE MODIFICATIONSAs lawmakers and housing advocates push the federal government to help cut the foreclosure rate, some data indicates that more than half of loans modified in the first quarter of 2008 still fell delinquent within six months. Experts say one possibility is that the modifications might not have lowered monthly payments enough to be truly affordable.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n4-121208.cfm