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NYC up 12% - 2008 survey of closing costs - Alan Greenspan offers optimism

Zero down possibilities are dwindling. While Down Payment Assistance programs will not be formally abolished until September 30th, some lenders are no longer approving DPA supported purchases. I repeat my recommendation to handle zero down deals post-haste! Have a good week.... Paul 

Long term rates flat
Freddie Mac the 30-year fixed averaged 6.52% with an average 0.7% for the week ending August 14, unchanged from the 2 preivous weeks.  last week when it averaged 6.52%. Last year at this time, the 30-year fixed averaged 6.62%. Freddy Mac rate surveys
1-3 week trend: Flat  21+ days: Flat  Market commentary

Alan Greenspan offers a bit of optimism
Greenspan says he expects housing prices to begin to stabilize in the first half of 2009 although they could continue to drift lower for quite some time thereafter...  Read more
 
Frankly speaking about identity theft: You could be next!  
The majority of people don't know the simple, proactive steps they can take to prevent it from happening. Here are some measures you can take... Read more. I also recommend you check out LifeLock.

NYC prices up 12%
Average prices in NYC actually increased by 12% in the second quarter 2008 over the same period in 2007, according to a report from the Real Estate Board of New York. Read more

2008 survey of closing cost 
New York, Texas, Florida. For the second straight year, those are the most expensive states in which to get a mortgage. Read more
  
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There is nothing on this earth more to be prized than true friendship.
(Saint Thomas Aquinas)
Posted Monday Aug 18