According to the Mortgage Bankers Association, mortgage loan application volume declined by 5% for the week ending January 20, 2012. The results include an adjustment for the Martin Luther King, Jr. Holiday. Interest rates on some fixed-rate loans rebounded slightly from all-time lows. The average interest rate for a 30-year fixed-rate mortgage increased by five basis points to 4.11%. The average interest rate for a 30-year FHA loan increased six basis points to 3.97%.

While interest rates seem to be rebounding, they are still very low. Now could be a great time for you to purchase a home. Contact us to discuss your options today.

The average rate on a 30-year fixed mortgage loan stayed near the record low for the sixth consecutive week.

Freddie Mac reported on Thursday, December 8, that the rate on the 30-year home loan dropped to 3.99 percent from 4 percent the previous week.

The average rate on a 15-year mortgage dropped down to 3.27 percent from 3.3 percent.

Mortgage rates have been below 5 percent for all but two weeks this year.

To calculate average mortgage rates, Freddie Mac surveys lenders across the country Monday through Wednesday each week.

‘Tis the season to be with family, brave the crowds, enjoy those winter sports . . . and buy a home. That’s right. Although most homes are sold during the spring and summer months, many homebuyers choose to take advantage of winter real estate savings. Here’s why:

• Less competition. The wintertime sees fewer buyers on the market, so for you, that means less competition. People are less likely to move in the winter because of weather, the holidays, etc., so many people put off looking for a home until the spring. Many families may not want to move their children in the middle of the school year, keeping them from house hunting. Less competition for you means a better chance of getting a great home at a lower price.

• Sellers need to go. When people are selling their home in the winter, it can often mean they have to get out quickly because of a job transfer or other pressing matter. Because many sellers may need to get out fast, they are more likely to bend on negotiations with the buyer.

• Smoother process. Because lenders have a lot less paperwork in the wintertime, transactions generally go through more quickly and with a lot less hassle.

• Lower taxes. Property taxes are usually determined by how much you paid for your home. Therefore, if you snag a great deal on a home during the winter, your property taxes will also be lower. Also, it may be a good idea to purchase a home before December 31. Homebuyers may be able to deduct mortgage interest, property taxes, and some of the costs associated with a new home purchase from their income taxes.

• Lower interest rates. Mortgage rates don’t generally follow a seasonal trend; however, right now, mortgage rates are still near record lows. Most likely, interest rates will remain low throughout the holiday season.

Keep in mind that warmer areas in the country such as Florida and ski/winter resort destinations like Colorado don’t follow this trend.

1. Create a “Gratitude Journal” in which each family member writes down what they are thankful for. Try to encourage everyone to write at least 10 or more things. Make copies for everyone for Christmas.
2. Make a “blessings box.” It’s similar to the Gratitude Journal, but have everyone write specific blessings they are thankful for on little slips of paper anonymously. The items can be humorous or serious. After Thanksgiving dinner, randomly pull slips out of the box and read them out loud.
3. Volunteer with a local Meals on Wheels program. Bring a hot dinner to those who may not be able to join their family or friends this year. They’ll appreciate the food and, more importantly, the time you share with them at their homes.
4. Have everyone make a toast of thanks. Once everyone is seated for Thanksgiving dinner, go around the table and have each person say why they are thankful, and then raise your glass and toast to it. Even kids love to clink glasses.
5. Report a job well done. Have you received consistently good service from someone throughout the year? It could be your hair stylist, a waiter, a patient store employee who seemed eager to answer all your questions, a customer service representative? Every Thanksgiving, make a list of those people. Write a simple “Thank You” note that outlines the attentive care you received from that person. Send the note to their supervisor and also a copy to them.
6. Send a letter or care package to a military service member abroad. You can use AnySoldier to send care packages. They also provide a list of items you could include in your package.
7. All over the country this Thanksgiving, different companies and nonprofit organizations are hosting 5k and 10k races to benefit local charities and other causes. Most of these races are Run/Walks that encourage full family participation and the upside? You can work off some of that big dinner before you even sit down at the table. Runs are planned for on and around Thanksgiving, and some require advance registration, so be sure to check out the specific rules for your area.
8. Volunteer at a homeless shelter. All the donated food that is raised during Thanksgiving time needs hands to help cook it. Volunteer this Thanksgiving at a homeless shelter to prepare and dish up a meal for those who don’t have a home to go to this holiday. The National Coalition for the Homeless has a directory to help you find homeless shelters in your area.
9. Express your gratitude face to face. Find ways to tell your dinner guests as well as all those you come in contact with on Thanksgiving how much they mean to you. There is nothing more sincere than a verbal expression of thanks.
10. Give an anonymous donation of whatever you can afford to a charity of your choice. Share what you have with others who have little.