California’s home sales up 4% in November

California’s housing market showed some signs of luster in November with sales picking up over the same month last year, but prices declined and foreclosures remained prevalent. (more…)

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Mortgage rates fall to record lows

Mortgage rates sunk to record lows again this week.

The average rate on the 30-year fixed mortgage fell to 3.94%, matching the all-time low hit in early October, according to Freddie Mac’s weekly mortgage rate survey. Meanwhile, 15-year fixed-rate loans hit a new record low of 3.21%, surpassing the record set on October 6.

Five-year adjustable rate mortgages also plumbed new depths, hitting 2.86% for the week. (more…)