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	About REALTOR, Ingrid F. Miles  Find my dream home...  Featured Listings  Customer Login  Sign Up Now  Your Home's Value  Contact Me -- please click  Mortgage Calculator  Real Estate Matters! Softening Market  Request Free Market Analysis  Real Estate Forms Ingrid Miles, REALTOR® Keller Williams Realty 40-42 Main Street Topsfield, MA 01983 Phone: 978.887.3995 Cell Phone: 978.471.9750 (direct line) Fax: 978.887.2261 Email: ingridmiles@kw.com Privacy Policy			Real Estate Matters! Softening Market... Softening Market yields mortgage rate changes National Market Trends Update The National Association of REALTORS reported in late September that recent sales for existing homes declined slightly, to an estimated annual volume of 4.91 million units for 2008. Recent tightening in mortgage lending has created challenges for some of today's home buyers. According to Freddie Mac, the thirty year fixed rate mortgage hovered around 6.5 percent during the month of August, up slightly from the month before. Officials are hoping that recent actions taken by the Federal government will create stability in the housing market. Lawrence Yun, chief economist for the National Association of REALTORS, says, "With higher loan limits and a beefing up of the FHA program, all the mechanisms have been falling into place to increase mortgage availability." Many experts are predicting an upturn in market confidence once congress agrees on a plan to deal recent challenges in the financial markets.