Bloodletting

As of February 2009

This just in from CNN

Existing home sales lowest since '97
Realtors say sales fell 5.3% in January, believing would-be buyers delayed purchases due to stimulus talk.

* Existing home sales lowest since '97

Mortgage Rates
Type Overnight avgs
30 yr fixed mtg 5.22%
15 yr fixed mtg 4.84%
30 yr fixed jumbo mtg 6.89%
5/1 ARM 5.07%
5/1 jumbo ARM 5.84%
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NEW YORK (CNNMoney.com) -- Sales of existing homes fell in January to their lowest levels in nearly 12 years, with a real estate group saying buyers delayed purchases in anticipation of government programs to boost the housing market.

The National Association of Realtors said Wednesday that existing home sales dropped 5.3% last month, to a seasonally adjusted annual rate of 4.49 million units from a rate of 4.74 million in December.