The results of its FreddieMac's Weekly Primary Mortgage Market Survey® (PMMS®) showed that the 30-year fixed-rate mortgage (FRM) averaged 6.42 percent with an average 0.5 point for the week ending September 27, 2007, up from last week when it averaged 6.34 percent. Same time last year, the 30-year FRM averaged 6.31 percent.

The 15-year FRM this week averaged 6.09 percent with an average 0.5 point, up from last week when it averaged 5.98 percent. A year ago, the 15-year FRM averaged 5.98 percent.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 6.15 percent this week, with an average 0.5 point, down from last week when it averaged 6.21 percent. A year ago, the 5-year ARM averaged 6.00 percent.

One-year Treasury-indexed ARMs averaged 5.60 percent this week with an average 0.6 point, down from last week when it averaged 5.65 percent. At this time last year, the 1-year ARM averaged 5.47 percent.

"Consistent with the direction of 10-year Treasury securities, average rates on 30-year fixed-rate mortgages drifted up in the past week to levels close to those at the beginning of the month," said Frank Nothaft, Freddie Mac vice president and chief economist. "Also tracking short-term Treasury notes, average rates on 1-year adjustable-rate mortgages (ARMs) dropped by 5-hundredth of a percent. Though it is the fourth consecutive week rates on ARMs have declined, the share of mortgage applications for ARMs has been trending down, and last week reached its lowest level since March 2003, according to the Mortgage Bankers Association.

"Additionally, existing home sales continued to decline in August to the slowest pace in 5 years to a seasonally adjusted 5.5 million units. Sales of single-family homes slowed in every census region, with the highest impact felt in the Western region.

reference: FreddieMac, Primary Mortgage Market Survey® (PMMS®), www.freddiemac.com
 

Buying a house with no money down can be a possibility.

The importance of owning a home is not just giving you a dwelling place but also a great investment and a major source of wealth over the years. Buying a home can be the smartest decision a person or a family can make. Homes may not be appreciating as before but it will bounce back as it always does after a slump.

At present, where the economy is really affected by the housing slump, people find it harder to save money to buy a house. Though it is a natural thing to do for a family to want to invest in owning a home, it is now more difficult for people to have money to set aside for the future and pay for the down payment and amortization of the house of their dreams.

With the median home price now more than $180,000, a 20% down payment amounts to a staggering $36,000. This kind of cash can be easily available for some but not with the majority. Most people don’t have available cash provide for the down payment. So, how do you buy a house with no money down if you are with the majority?

There are several ways of buying a home by putting up only a small amount or even with no down payment at all. There are “interest only loans” that allow the home buyer to pay only the interest on the loan for a period of time.

There are also a number of specialty mortgage vehicles available to the buyer who does not have a down payment to offer. There are variable rate and adjustable rate mortgages that allow the buyer to put only a small amount down, or sometimes nothing at all.

There are also programs that allow the buyer to take out a mortgage, and then turn around and take out a second mortgage to cover the cost of the down payment. Some of these programs are riskier than others, but they do allow the buyer to buy a house with no money down.

Other popular ways in which eligible home buyers can get into the home of their dreams for little or no money down include owner financing, VA loans, lease/purchase agreements, and federal, state and local loan programs.

A real estate agent who is well versed in the different loan programs (state, federal and local) can help the potential home buyer to find the programs for which the buyer is qualified. Many states and cities have programs in place that encourage renters to become homeowners, and these programs often include help with the down payment. Depending on your income and your location, you may be eligible for a grant to cover the down payment on the home. Your real estate agent can help you complete the forms you may need to apply for these great programs.

The bottom line is this: it is possible to buy a house with no money down! Do not let the lack of a down payment keep you from making one of the most important financial investments of your life. A home of your own is a major asset, and one that appreciates year after year. Just manage your finances wisely as this is part of becoming a responsible homeowner.
 

A more appealing yard can be more appreciated thus can increase the value of one’s home.

To do this, you should have well maintained lawn with healthy plants. Healthy plants and an outstanding landscape start with healthy soil. No matter how beautiful and expensive the plants are, unless they are nourished, its full aesthetic potential will not be met.

To do this, you must fertilize. Proper drainage is also a factor to consider in growing plants. Apply additional compost or sand to improve drainage and richness.

To determine the drainage and nutrient needs of the landscape, you need to know what types of plants are you going to plant. You might want put together a lay out of the landscape. Envision the landscape and put your plan on paper.

1. Focus on the most important project first. Consider the highly visible part of your property such as a driveway or doorway then design the landscaping on your front yard then cover your backyard.

2. However you proceed, here are some important things to keep in mind --

• Select plants that naturally do well with your climate and rainfall.
• Make sure the location fits the plant you choose when it comes to sun. 
• If a plant needs full sun don't put it in partial shade -- and vice versa. 
• Scatter color throughout but don't over-plant or plant too closely together. Most plants grow quickly and the space will come in handy and look better as well.
• Take note of views you may want to obscure or focal points you may want to create or accentuate.
• Cover your rear the backyard is considered a private space. If yours feels overexposed, fencing can offer a quick fix.

3. Maintain the landscape.

• Turf. Make sure that the grass is nourished and green. With just a single application you can get good results.
• The beds and shrubs. Cut fresh edges where grass meets mulch makes the lawn look well kept. A study showed that you can increase the value of the home by one percent by simply curving the edge of your flower beds.
• Foundation plants. If they are overgrown, widening the beds by two feet will make the shrubs seem smaller.

A well maintained and manicured landscape will not only bring up the price but will also give you a pleasing sight while you are still staying in the house. You can do this by yourself or contact a professional to implementa nd maintain the project for you.
 
 

If a home is going to be empty for a long time, whether the occupants are going for summer vacation or the winter or holiday season, here are some suggestions from police officers to keep the property secure and discourage intruders:

Sign the house up for security checks from the local police department. Generally, the officers assigned to the area will keep an eye on the property at no charge.

• If there is a security system installed or in place, makes sure the security company knows the house will be empty and has an emergency contact. 
• Stop the delivery of newspaper and mail. Ask neighbors to keep an eye out for other unsolicited paper that may gather on the driveway or in the mailbox. 
• Arrange for a snow-removal or lawn care service. 
• If the property is winterized, post that information where it can be seen from the inside, but not the outside. 
• Remove anything from the house that is obviously valuable and tempting.
• Put the lights on timers. Don’t leave lights on all night because that will alert intruders that the house is unoccupied.
• Make sure to lock all the windows and doors. 
• Take a video of the house to make damages and theft easier to prove.

For agents to sell at this time, subsidies are really encouraged. But there is one serious implication. The incentives being given to buyers don't figure into the national home-price data reported by industry groups. This is covering up a steeper downturn in real estate sales.

The practice, which started to gain wide acceptance last year as a way for builders to move unsold inventory is now being aggressively practiced. This now accounts for 85% of all sales. And it's not just furniture being used to sweeten the deal.

A study made by Lisa Fowler, a researcher at George Mason University's Center for Regional Analysis found that prices in D.C. fell by 0.2% over the past year if incentives were included compared with a 0.7% rise if they weren't. The average home sold there for $470,000 in April, with a subsidy of $9,700.

Subsidies aren't new. But the latest surge, fueled by the huge run in prices in recent years, may have legs. Given all the equity that sellers have built up -- some $10.9 trillion, according to the Federal Reserve, versus $7.8 trillion in 2002 -- they usually don't mind forking over some of their gains to get the deal done. Buyers often find a subsidy more appealing than a lower price, since it means they don't have to put up as much cash. "Part of it is psychological, but part of it is financial," says Fowler.

More real estate agents tell their prospective clients to be creative to lure buyers. Some suggest that sellers should offer to pay a year's worth of association fees, annual property taxes or even closing costs. Part of their come on lines to interest buyers is to look forward to receiving incentives.

Some even provide cash enticements to the tune of tens of thousands of dollars. There are no national numbers.

The most aggressive deals may be downright fraudulent. Lenders scrutinize transactions to make sure any cash subsidies go toward legitimate home expenses and aren't a way for the buyer to avoid a required down payment. Generally, if the incentives top 6% of the purchase price, it's a red flag.

So if you as a buyer really want to own a home, you must put some money down, at least 10% if you have a not so good credit and make sure that what you are doing would not be fraudulent.