Mortgage rates generally fell again this week, with the average rate on 30-year fixed-rate mortgages reaching the lowest level in at least 38 years, according to Freddie Mac’s weekly survey.

“Interest rates for 30-year and 15-year fixed-rate mortgages fell for the fifth consecutive week to an all-time low while the average rate on five-year (adjustable-rate mortgages) hovered near its record set in the previous week,” Frank Nothaft, Freddie’s chief economist, said Thursday.

http://online.wsj.com/article/SB10001424052748704007804574573794292740988.html

Pittsburgh registered one of the nation’s best growth rate in online job postings last month, according to a new report.

The index, by online human resources researchers CareerCast.comand JobSerf, measures U.S. managerial recruitment activity. Pittsburgh, Boston and Atlanta and were tops in year-over-year growth in online job postings, according to the report.

Read More: http://pittsburgh.bizjournals.com/pittsburgh/stories/2009/11/30/daily9.html?ed=2009-11-30&ana=e_du_pub

Pittsburgh has earned a top spot in Forbes’ list of “America’s Fastest Recovering Cities.” What does that mean exactly? It means that even though no region has escaped the recession, Pittsburgh has a pretty high level of economic security–fourth in the nation to be precise, right behind Austin, TX, San Antonio, TX and Omaha, Neb., which comes in at No. 1.

Pittsburgh is praised for modeling a healthy economy fed by multiple industries.

The article states, “Pittsburgh’s GMP grew .8% between the second quarter of 2008 and 2009, consistent with the .8% national average. Home prices there remained relatively stable while those in other cities plummeted because the area’s prospects still seemed dim during the housing bubble and speculators looked elsewhere.”

Click here to read the http://www.forbes.com/2009/11/19/cities-recovery-unemployment-lifestyle-real-estate-top-ten-chart.html

‘Tis the season of giving. But if you’re tired of the offerings at the mall, why not consider giving your children something grander, like the gift of a down payment to buy a home—or even a home itself?

Uncle Sam encourages such generosity, at least within limits (the IRS site has details). You and your spouse are each allowed to give gifts of $13,000 of money or property to as many people as you want, without triggering taxes for you or the recipients. If you give more than this amount to any one person, the excess counts, dollar for dollar, against your $1 million lifetime gift-tax exclusion ($2 million for married couples).

Read more: http://online.wsj.com/article/SB125918780423364703.html

 

Pittsburgh area real estate showed signs of a turnaround in October as last-minute buyers apparently scrambled to take advantage of the $8,000 federal tax credit that was originally set to expire in November.

Buying activity in Allegheny County jumped 18.1 percent in October with $227.1 million spent on housing compared with October 2008, when $192.3 million changed hands, according to RealSTATs, an information service that compiles data on local real estate transactions.

Read more: http://www.post-gazette.com/pg/09325/1015190-28.stm

 

The number of homes sold in the Pittsburgh region rose in October, spurred by first-time homebuyers taking advantage of the federal tax credit, according to a report from real estate information company RealSTATs.

The region posted a 7.4 percent jump from October 2008, with 2,514 sales last month. Allegheny County saw a 15.1 percent increase in the number of homes sold last month; to 1,535, compared with 1,334 in October 2008.

The region’s median home price rose 3.4 percent in October, to $120,000. The foreclosure rate was down 8.8 percent in the five-county region last month, to 299, RealSTATs said. RealSTATs is based on Pittsburgh’s South Side. http://pittsburgh.bizjournals.com/pittsburgh/stories/2009/11/16/daily43.html?ed=2009-11-20&ana=e_du_pub

http://online.wsj.com/article/SB125823720330748853.html

 

Great video on the important points of the homebuyer tax credit… http://us.cnn.com/video/?/video/living/2009/11/08/nr.homebuyer.tax.credit.cnn

 

http://blogs.wsj.com/developments/2009/11/05/its-almost-official-home-buyer-tax-credit-extended-expanded/

http://www.cnn.com/2009/POLITICS/10/28/senate.homebuyers.credit/index.html