How low can they go?
Freddie Mac reports that mortgage rates fell to yet another record low with the average rate for a 30-year fixed loan falling to 3.83 percent while the average 15-year rate dropped to 3.05 percent for the week ending today, according to Bloomberg.com.
In other news:
April home sales rose 27 percent in the Bloomington-Normal housing market, the Pantagraph reports.
The median home price climbed 15.3 percent in the Springfield area market during the first quarter of 2012, the State Journal-Register reports.
The Chicago Tribune reports on a new smartphone app, HomeSnap, that allows you to snap a photo of a house and pull up the estimated value, what it last sold for and more information.
Fannie Mae turned a profit in the first quarter of 2012 and will repay the U.S. Treasury Department $2.8 billion, according to the Associated Press (via Daily Gazette).