Look back at my post of Nov 25.  30-Year Mortgage rates were 5.99% according to Bloomberg then.  Today they are reported at 5.54%.  HUD loans with 3% down are being issued at 5.50% today.  How is that for affordability!

The University of Michigan Surveys of Consumers said its index of confidence for December rose to 59.1 from November’s 55.3, aided by the fall in one-year inflation expectations to their lowest in five years.  This is at its highest since September largely due to the collapse of gasoline prices, deep discounts by retailers and tumbling inflation expectations.

According to RealtyTrac Foreclosure activity in November hit the lowest level we’ve seen since June thanks in part to recently enacted laws that have extended the foreclosure process in some states, along with more aggressive loan modification programs and self-imposed holiday foreclosure moratoriums introduced by some lenders.

All good news.  www.JayNadelson.com