The Default Service News stated that interest rates for 30-year and 15-year fixed-rate mortgages have fallen for five consecutive weeks, and this week both set a new all-time record low, Freddie Mac reported Thursday.  How long this will last remains to be seen.  It seems that 1st time homebuyers are driving the market given the tax credit.  And now that it’s been extended and expanded that should continue to increase housing sales as we turn the corner entering 2010.  Read more here.

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The Home Value Code of Conduct (HVCC) recently enacted this summer is having a detrimental impact on homebuyers and homesellers desiring to purchase or sell a home. The new policy severely controls the ability of appraisers to perform reliable valuations. In addition, lenders and realtors are no longer able to directly communicate with appraisers in order to assure their clients of accurate appraisals.

The net result . . . many real estate deals are falling apart due to inaccurate valuations by appraisers not knowledgeable about neighborhood which the property is located in. Learn more here and sign the petition to withdraw this policy.

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