Home prices continued to drop for the 18th straight month setting the region’s record for consecutive months of declines. according to the official numbers for August prices dropped an average of 26% from August 2007 to August 2008. In some good news mortgage interest rates have declined to under 6% fro many lenders on a 30-year fixed mortgage. Combine the low interest rates with the low housing prices and now is a great time for first time buyers.
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