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10A – Daily News – Friday, November 12, 2010 NEW YORK (AP) — The mort- gage rate bar is even lower, but few homebuyers are making the jump. Rates on fixed mortgages again fell to their lowest levels in decades this week, Freddie Mac said Thurs- day, after the Federal Reserve unveiled a massive bond-buying pro- gram to help spur economic growth. That marked more than a half-year of record lows. But housing activity has still faltered. ‘‘I have zero purchase deals,’’ said Mortgage rates fall to fresh lows this week ‘‘While that put a pause in the foreclosure more than 1 million homes this year, foreclosure listing firm RealtyTrac Inc. said Thursday. Recent investiga- tions into faulty paperwork have postponed some foreclosure sales, resulting in a 9-percent drop in home repossessions in October from the previous month. Wisconsin mortgage broker John Stearns. ‘‘That’s how it’s been for months.’’ Stiff headwinds — unemployment, foreclosures and tight credit — are undermining attractive rates and forc- ing buyers to the sidelines. Home sales logged their worst summer in decades, with third-quar- ter sales falling by 21 percent from a year ago, the National Association of Realtors said Thursday. Median home prices fell in half of U.S. cities in the July-to-September period, up from a third in the previous quarter. And banks are on pace to take back Major lenders temporarily halted some foreclosures while they reviewed their practices and attorney generals in all 50 states launched a joint investigation into the issue. But many have resumed or plan to resume foreclosures soon. ‘‘While that put a pause in the foreclosure process, that doesn’t do anything to help delinquencies,’’ said LendingTree chief economist Cameron Findlay. Economic woes, such as unem- ployment or reduced income, contin- ue to be the main catalysts for fore- closures. Borrowers who owe more than their homes are worth are also at high risk and their numbers are ris- ing. Zillow Inc. said Wednesday that the number of mortgage holders who The Red Bluff Daily News is pleased to offer Geographic Targeting on America’s Leading Online Network… process, that doesn’t do anything to help delinquencies.’ LendingTree chief economist Cameron Findlay are ‘‘upside down’’ on their home loans rose in the third quarter to 23 percent. Homeowners with negative equity have a harder time refinancing even though rates are enticingly low. The average rate on 15-year fixed loans, a popular choice for refinanc- ing, fell to 3.57 percent from 3.63 percent, Freddie Mac said. That’s the lowest since the survey began in 1991. The average rate for 30-year fixed loans fell to 4.17 percent from 4.24 percent last week. That’s the lowest on records dating back to 1971. The Federal Reserve detailed plans last week to buy $600 billion in Trea- sury bonds. The central bank gave more details on Wednesday, saying it plans to purchase $105 billion in Treasurys over the next month. The extra demand means Treasurys will produce lower yields for investors. Mortgage rates tend to track those yields. To calculate average mortgage rates, Freddie Mac collects rates from Barber Shop $ Cheers 600 Do you… •Offer services in a specific geographic area • Sell products online and ship only within a specific geographic area • Have an offline storefront where customers purchase products •Want to drive targeted visitors to different local sites of your national company • Need to test a specific location for market potential • Are legally restricted to advertising within a specific geographic region ...Then industry-leading Geographic Targeting solution is the right fit for you. Advertising packages starting as low as $135 per month. More than a third of shoppers have already begun their Christmas shopping. Get your Christmas advertising message out early. Contact your Advertising Sale Representative Today! (530) 527-2151 D NEWSAILY 545 Diamond Ave., Red Bluff RED BLUFF TEHAMACOUNTY Don’t be caught behind the curve. Open 6 days 570-2304 259 S. Main St. Tractor Supply Center Senior Cuts lenders across the country on Mon- day through Wednesday of each week. Rates often fluctuate signifi- cantly, even within a single day. Rates on five-year adjustable-rate mortgages fell to their lowest level in at least five years. They averaged 3.25 percent, down from 3.39 percent a week earlier. It is the lowest rate on records dating back to January 2005. Rates on one-year adjustable-rate home loans were unchanged at 3.26. The rates do not include add-on fees, known as points. One point is equal to 1 percent of the total loan amount. The average fee for 30-year and 15-year fixed loans in Freddie Mac’s survey was 0.8 point. 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