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Real Estate News
Recent rate cuts by the Federal Reserve Bank will benefit homeowners with adjustable rate mortgages. The average fixed interest rate for 30 year home loans is 5.66% and 5.04% for 15 year loans. Jumbo loans are at 7.05% for 30 year. Auctions of foreclosed real estate will become a larger share of real estate sales, possible doubling the auction market share; due to the large number of foreclosures that are auctioned. Even though home values have slumped in many areas, values in the southeast (with the exception of Florida) have not declined as much as other areas. Farm land values are increasing due to high commodity prices, driven by the declining value of the dollar and demand for ethanol, as well as low interest rates. |
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American Publishing: P.O. Box 777 Harrison, TN 37341 423-344-7777 Fax 423-344-0022
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