Meanwhile, existing-home sales declined slightly in February, with modest gains in the Northeast and Midwest offset by softer sales in the South and West, according to the National Association of REALTORS.

[SOURCES: Information, Inc.; Freddie Mac; NAR]

Long-term mortgage rates climbed above 5 percent this past week, as 30-year, fixed loans averaged 5.01 percent compared to 4.98 percent the previous week, according to Freddie Mac. Average interest on 15-year, fixed loans rose to 4.40 percent from 4.39 percent; and five-year, adjustable-rate mortgages climbed to 4.27 percent from 4.25 percent. One-year ARMs fell to 4.22 percent from 4.29 percent a week earlier.

[SOURCES: Freddie Mac; Information, Inc.]

Mortgage interest for the past week held fairly close to the previous week’s rates, reports Freddie Mac. Average interest on 30-year fixed loans slipped a notch to 4.98 percent from 4.99 percent and was down from 5.10 percent a year ago. While still higher than the historic lower of 4.71 percent established in early December, long-term mortgage rates have hovered around a very favorable 5 percent thanks to the Federal Reserve’s mortgage-backed securities program meant to keep rates low and make home buying more affordable. The central bank’s policymaking committee confirmed on Jan. 27 that it will keep rates near those record lows in order to prop up the economy; but it still plans to terminate the program at the end of March.

[SOURCES: Freddie Mac; Information, Inc.]

He was getting old and paunchy
And his hair was falling fast,
And he sat around the Legion,
Telling stories of the past.

Of a war that he once fought in
And the deeds that he had done,
In his exploits with his buddies;
They were heroes, every one.

And ‘tho sometimes to his neighbors
His tales became a joke,
All his buddies listened quietly
For they knew where of he spoke.

But we’ll hear his tales no longer,
For ol’ Bob has passed away,
And the world’s a little poorer
For a Soldier died today.

He won’t be mourned by many,
Just his children and his wife.
For he lived an ordinary,
Very quiet sort of life.

He held a job and raised a family,
Going quietly on his way;
And the world won’t note his passing,
‘Tho a Soldier died today.

When politicians leave this earth,
Their bodies lie in state,
While thousands note their passing,
And proclaim that they were great.

Papers tell of their life stories
>From the time that they were young
But the passing of a Soldier
Goes unnoticed, and unsung.

While the ordinary Soldier,
Who offered up his all,
Is paid off with a medal
And perhaps a pension, small.

It’s so easy to forget them,
For it is so many times
That our Bobs and Jims and Johnnys,
Went to battle, but we know,

It is not the politicians
With their compromise and ploys,
Who won for us the freedom
That our country now enjoys.

Should you find yourself in danger,
With your enemies at hand,
Would you really want some cop-out,
With his ever waffling stand?

He was just a common Soldier,
And his ranks are growing thin,
But his presence should remind us
We may need his like again.

For when countries are in conflict,
We find the Soldier’s part
Is to clean up all the troubles
That the politicians start.

Perhaps just a simple headline
In the paper that might say:
“OUR COUNTRY IS IN MOURNING,
A SOLDIER DIED TODAY.”

Pass On The Patriotism!
YOU can make a difference

[SOURCES: Freddie Mac; Information, Inc.]

[SOURCES: Freddie Mac; Information, Inc.]

THDA provides 30-year fixed rate mortgage loans. The mortgage loans are originated through local lenders with eligible homebuyers. Program qualifications and a list of participating lenders are posted at www.thda.org.

The $8,000 federal stimulus tax credit offered only to first-time homebuyers can be used with the THDA mortgages. The newest FHA Mortgagee Letter, 2009-15, confirms THDA’s Stimulus Loan Program eligibility. For mortgage loans closed before or on November 30, 2009, THDA will make a 0% deferred interest loan for up to 3.5% of the purchase price to be used for the downpayment and closing costs. If the deferred interest loan is repaid by June 30, 2010, only the first mortgage remains. If the homebuyer chooses to not pay off the Stimulus Loan by June 30, 2010, the Stimulus Loan becomes an amortizing second mortgage loan at 1% over the first mortgage’s interest rate. Credit review assesses the applicants’ ability to pay both debts.

Homebuyer education is required for the Stimulus Loan.
[Source:MTAR blog]