Primary mortgage market survey tells more about the development done in 30 year fixed rate mortgage (FRM) averaged 4.98 percent with an average 0.6 point for the week ending month of January 28, 2010, down slightly from last week when it averaged raised with 4.99 percent. Last year at this time, the 30 year fixed rate mortgage (FRM) averaged 5.10 percent.

The 15 years fixed rate mortage this week averaged nearly about 4.39 percent with an average 0.6 point, down slightly from last week when it averaged 4.40 percent. A year ago at this time, the 15-year FRM averaged 4.80 percent.

Bank of America, the nation's biggest mortgage lender, announced on Tuesday that it was the first lender to agree to lower or eliminate payments on second mortgages. This federal initiative, named the Second Lien Modification Program, gives incentives facilities to second mortgage holders to work closely with first mortgage holders under the Home Affordable modification program.

The less use of an agreement dealing with concern of second lien holders has formed a important impediment to find out successful modifications made, said ‘John Taylor’,representive of the National Community Reinvestment Coalition, a team whose members include foreclosure prevention counselors programs without  any alteration to the terms of second mortgages, first mortgage holders often have to lower their payments even more to hit the HAMP target requiring that borrowers' total mortgage payments represent no more than 31% of their pre tax income.

Investors Real Estate Trust (IRET) recently announced that its operating partnership, IRET properties, has signed leases that total to around 102,548 square feet at three of its commercial properties. Timothy Mihalick, President and Chief Executive Officer of IRET, expressed his happiness over the signing of the three commercial leases. He added that they were committed in serving the existing tenants as well as secure new tenants in the unoccupied space.

Medcenter One, Inc., which is a non profit, integrated health system has leased around 11,890 square feet. This is done for the relocation of their Walk-in Clinic Downtown and is leased from former Bank of North Dakota Building. This is located at the corner of the Seventh Street and Broadway Arena in Bismarck, North Dakota. The place is currently being remodeled and will be completed and occupied in June 2010 with 50% building occupancy.

If one is about to step in the world of real estate investing, then one needs to be aware of the various financing options available. It is very important to search for all viable options for financing, as per the requirements of the individual. Following are the sources of finance for real estate.

Banks- Banks are the most preferred and obvious choice for the finance. Retail banks use their own money to make loans, hence there are very less chances for qualifying to it. Banks use their own rates and guidelines; hence the rates can sometimes be higher. The financing success rate depends upon the relationship of the borrower with the bank. Banks require less documentation formalities and hence are more flexible.

Bridge loans- This is an emergency measure which helps in prevention of foreclosure of the property. These loans require far less time for getting approval and can be repaid later. Bridge loans are for lesser time and have higher rates as compared to banks.

Many times one may have heard the question- Is real estate good or bad? Real estate has always been a good investment plan. This is because if one buys a property and rent it; this can serve as a life long income. Hence, one can earn without much hustle and bustle. On the other hand, real estate has shown its evil face in the recent times of economic slowdown. So, what is real estate all about?

Real estate is all about gamble, its advantages and disadvantages. If it pays off one can get rich instantly by selling off property at high rates than its cost price. If the real estate prices go down then the gamble may ruin you. Many people have made lots of money through real estate investment. The gamble involves purchase of property in a good area with potential development prospects. If the neighborhoods are well developed, then there is every possibility of the property price to shoot up after sometime. However one has to wait for sometime for this profit.

The first question that arises in the minds of people looking for a home is the arrangement of finance for the purchase. This may prompt one to either go to their local bank or to a mortgage broker. If opting for a broker then select one who has been referred by someone. Then comes the question of qualifying for the finance. The following analysis about yourself should do that.

The first thing a mortgage lender will ask is your credit score. There is no need for giving every lender your social security number. One has to just inform them your credit score and the lender in turn will give you the loan rates. For people having credit score lower than 580, it is an uphill task to find finance. However some lenders would provide loan to these bad credit customers at higher price. At the same time it is relatively easier for people having a credit score over 700. A person’s income and debt load also determine the price of the real estate loan.

Buying one’s own home can be a dream come true for some and it can be realized these days. Many people wait for the right time to buy a home. One may ask what is the right time buying concept of homes and when it is so. The right time to buy a home is now. This is because of the economic slowdown. Homeowners are walking away from their properties due to unemployment or due to the fact that the home was only worth of half than what they paid and hence some people are unable to make mortgage payment.

However, besides this there are a few tips one may follow while buying a home. Consider that one has decided the best home for himself and is going to make an offer to buy it. The most preferred time for this offer would be either in the evening of workdays or on the weekend especially Saturday afternoon. However, the most ideal time for you are the best time to avoid for making an offer. This is because there are a lot of other people who believe that weekend is the best time for making an offer. This means that there will be a lot of people offering the price for the same home. This increases one’s probability of competing with other prices and getting rejected.

Real estate is considered to be the most lucrative forms of investment today. But don’t get carried away; it is also one of the most risky investments owing to the shaky markets. So it is better to know the mistakes involved in real estate investment and hence one should avoid them as one is investing hard earned money.

1. One should never invest the money into something without knowing its returns. One need to know what is being bought and what is expected out of it. This is where the market analysis comes into perspective.

2. Many a times investors are lured by real estate investment. They look for short term benefits and are doomed on long term plans. Hence one should look for long term by deciding the goals and making concrete plans. Look for long term and not just tomorrow.