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Wednesday, April 7, 2010 as of 11:14 AM ET

Home Sales

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Rates are Great, Home Prices Less Filling

Mortgage rates stayed near all-time lows this week, as the housing market showed signs of life and sent potential homebuyers a message: If you want to buy low, it doesn't get any better than this.

The benchmark 30-year fixed-rate mortgage was 3.97%, unchanged from last week, according to the Bankrate.com national survey of large lenders. The mortgages in this week's survey had an average total of 0.41 discount and origination points. One year ago, the mortgage index was 4.75%; four weeks ago, it was 4.09%.The benchmark 15-year fixed-rate mortgage fell to 3.19% from 3.2% the previous week, and the benchmark 5/1 adjustable-rate mortgage rose to 3.02% from 3%.Low mortgage rates are not the primary reason homebuyers decide to buy. But low rates make homeownership more affordable, and they certainly are helping many first-time homebuyers, says David Kuiper, a mortgage planner at First Place Bank in Holland, Mich."They are finally getting the message that rates are at all-time lows," Kuiper s...

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