Dayton Business Journal...
30-year U.S. mortgages fall below 4%
by Jeff Clabaugh
Friday, November 11, 2011 

Long-term mortgage rates edged lower again this week, with the average rate on a 30-year fixed-rate mortgage back below 4 percent. 

A 30-year fix averaged 3.99 percent in the week ending Nov. 10, down from 4.0 percent last week, according to Fredddie Mac’s weekly rate report. A 15-year fix averaged 3.30 percent, down from 3.31 percent. The average rate on a one-year adjustable rate mortgage rose to 2.95 percent, from 2.88 percent last week. 

Housing sales picked up this summer, though prices remain largely depressed. 

The National Association of Realtors this week reported existing home sales in the third quarter rose in every state compared to a year ago. 

While median existing home prices nationwide were down 4.7 percent, third quarter prices in the Washington area were an average of 0.7 percent higher than a year earlier. 

Locally, Dayton-area home sales declined in September. There were 921 single-family and condominium sales during the month, a 7 percent decrease, or 70 sales, from August, when the area recorded 991 sales. 

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