Southern California’s housing market showed fresh signs of a comeback last month as first-time buyers took advantage of a federal tax credit aimed at keeping the fragile recovery on track. And the tax credit program, which was expanded this month, may be helping boost the all-important move-up market as people who already own homes started traipsing through open houses looking for good buys. “We are seeing signs of life,” said   Read More ...

According to Freddie Mac, 30-year-fixed-rate mortgage average fell further to 4.87 percent with an average 0.7 point for the week ending Oct. 8 from 4.94 percent last week.  “Such low rates are spurring mortgage demand,” said Frank Nothaft, Freddie Mac vice president and chief economist, in a statement. “Interest rates for 30-year fixed-rate loans were the lowest since mid-May; 15-year FRMs were at a record low since data were first   Read More ...