RECORD LOWS!  However, please note that should you also believe you are having difficulties making payments or believe you are upside down on your equity in your house, I can still asst you in the sale of your property before drastic measures must be taken.  Thought you would find the below information helpful. 

REALTYTIMES.COM   August 13, 2010    McLean, VA – Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), and again, the fixed-rate mortgages reaching, along with the 5-year adjustable rate, set record lows for this survey. (The 30-year fixed-rate survey began in 1971, the 15-year began in 1991, and the 5-year adjustable in 2005.)

30-year fixed-rate mortgage (FRM) averaged 4.44 percent with an average 0.7 point for the week ending August 12, 2010, down from last week when it averaged 4.49 percent. Last year at this time, the 30-year FRM averaged 5.29 percent.

15-year FRM this week averaged a record low of 3.92 percent with an average 0.6 point, down from last week when it averaged 3.95 percent. A year ago at this time, the 15-year FRM averaged 4.68 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.56 percent this week, with an average 0.7 point, down from last week when it averaged 3.63 percent. A year ago, the 5-year ARM averaged 4.75 percent.

1-year Treasury-indexed ARM averaged 3.53 percent this week with an average 0.7 point, down from last week when it averaged 3.55 percent. At this time last year, the 1-year ARM averaged 4.72 percent.

Frank Nothaft, vice president and chief economist of Freddie Mac, reports, “Interest rates for fixed mortgages and 5-year hybrid ARMs again broke record lows this week following reports of a sluggish job market. Private payrolls increased by 71,000 jobs in July, below the market consensus forecast, and revisions shaved June’s growth by 34,000 workers. The Federal Reserve also noted in its August 10th policy statement that the pace of recovery in output and employment slowed since its last meeting in June.”

He continues, “Low rates are helping to heal many battered local housing markets by increasing home-purchase activity. The National Association of Realtors® reported that 65 percent of the 155 metropolitan areas they track experienced yearly increases in the second quarter of this year. This compares to 60 percent of areas in the first quarter and only 44 percent in the fourth quarter of 2009.”