Long-term mortgages rates moved lower again this week, hitting the lowest level in five weeks.
Freddie Mac’s weekly report says the average 30-year fixed-rate mortgage was 4.91 percent in the week ending Nov. 12, down from 4.98 percent last week. Rates on 30-year mortgages have been below 5 percent for five of the last seven weeks.
A year ago, 30-year mortgages were averaging 6.14 percent.
A 15-year fixed-rate mortgage averaged 4.36 percent this week, remaining below one-year adjustable rate mortgages, which now average 4.46 percent.
“Mortgage rates eased further over the week, helping to promote an affordable home-purchase market and stimulate refinance,” said Freddie Mac (NYSE: FRE) chief economist Frank Nothaft. “This comes at a time when house price declines are moderating and consumer demand for prime mortgages at commercial banks has picked up.”
The National Association of Realtors this week said third quarter housing prices were down an average of 11.2 percent from a year ago, but 20 percent of the top metropolitan ares saw positive annual growth.
Sales continue to rise, with third quarter existing home sales up 11 percent from a year ago.
For the second consecutive year, Prudential Northwest Properties received the Quality Excellence Award, ranking in the Top 10 real estate brokerages in North America for service satisfaction, based on direct feedback from clients.
Quality Service Certification, Inc. and Leading Research Corporation have identified 20 companies and offices in North America that, according to consumers, deliver the best service quality and customer satisfaction. The 2009 QE™ Award recipients are recognized as real estate’s leading companies and individual offices in delivering service excellence and the highest levels of customer satisfaction. The award is based upon the results of an independent survey of every closed transaction for participating real estate agents from January 1, 2007 through April 30, 2009.
“For an industry that is nearly obsessed with excellence measured by millions of dollars of sales, we are interested in recognizing excellence based upon measurably superior customer satisfaction and service quality — a standard consumers prefer as well,” stated Larry D. Romito, CEO of Quality Service Certification, Inc. (QSC)
“The 2009 QE™ Award is based upon feedback from 200,000 consumer surveys of more than 500 participating companies and their 25,000 real estate agents,” Romito added.
2009 QE Award Winners:
The Top 10 companies:
|Helen Adams Realty
|RE/MAX All Stars
|Rubloff Residential Properties
|Tomie Raines, Inc.
||East Lansing, MI
|RE/MAX Properties, Inc.
||Colorado Springs, CO
|Prudential Palms Realty
|Weichert Realtors Rebhan and Assoc.
|RE/MAX Creative Realty
|Prudential Tropical Realty
||Land O’Lakes, FL
|Prudential Northwest Properties
Top 10 offices:
||Prudential Tropical, FL
|14606 Osage Ct.
||Infinity Real Estate Services, Inc Services, Inc., Co
|523 Vrain Lane
||First Colorado GMAC, CO
|1010 Massachusetts Avenue
||Bowes Pennell & Thompson GMAC, MA
||Prudential Northwest Properties, OR
||Town and Country Realtors, Inc., TN
||Prudential Northwest Properties, OR
||Carolina Property GMAC Real Estate, NC
|Gold Coast/Magnificent Mile
||Rubloff Residential Properties, IL
|1647 Court Street
||Real Estate Professionals GMAC, CA
“We’re extremely proud to once again receive the QE Award,” said Bert Waugh, Jr, president of Prudential Northwest Properties. “Our goal is to consistently deliver the best service in the industry and this award proves that our clients appreciate the great service they receive from us. Potential home buyers and sellers want to know the agents they consider working with are recommended by the clients they’ve represented in the past, and QSC delivers unbiased, handwritten comments from real clients, which creates the kind of true transparency that’s expected in business today. Although this is a wonderful acknowledgement of the value we bring to the table, the real winner here is the consumer — our clients, today, tomorrow and down the road. I’m so proud of all the hardworking professionals that represent Prudential Northwest Properties, and I’m very proud to accept this award on their behalf.”
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