Question is? Who can qualify for a mortgage? Banks will need to loosen their requirements for borrowers if we are going to get more homeowners and refinances done. The 30 year fixed rate(most popular choice among buyers), averages 4.39% this week and lowest average for 2011, reports Freddie Mac.

What was the factor dropping the rates again? Weakening economy is the major factor! It’s not good news for the economy but great news for buyers who can qualify!

Housing market has still shown modest improvement with another rise in “pending” home sales for the month of June.

Interested in July and August 2011 Market Pulse? Click here:http://realtormag.realtor.org/news-and-commentary/market-pulse/article/2011/07/julyaugust-2011-market-pulse

“Until Next Time” and thank you very much for your time!