Chris Thorpe Real Estate

Freddie Mac reports a drop in the 30-year fixed mortgage rate to 5.94 percent during the week ended Oct. 9, marking the first decrease in three weeks. The 15-year fixed rate slipped to 5.63 percent from 5.78 percent the previous week. Meanwhile, the five-year adjustable mortgage rate dropped a notch to 5.9 percent from 6 percent; and the ...

DALLAS (Dallas Morning News) – High-end home sales have taken a hit from the stumbling mortgage market, with million-dollar-plus home purchases falling about 12 percent in the Dallas–Fort Worth area through August. "The high-end market has been slow for the past year or more as the credit markets have priced those mortgages ...

NEW YORK (New York Times) – Countrywide Financial, in an effort to resolve lawsuits against it, has launched the largest program ever to help struggling homeowners in Texas and ten other states. The lender, recently acquired by Bank of America, will provide a total of $8.7 billion to borrowers, $8.4 billion of which will be through ...

WASHINGTON (federalreserve.gov, CNN) – The Federal Reserve Board’s Federal Open Market Committee cut its short-term interest rate by a half of a percentage point today to 4.75 percent. According to the committee, the tightening of credit conditions has the potential to intensify the housing correction and to restrain ...