Freddie Mac says the average rate for 30-year fixed loans this week was 4.54%, down from 4.56% just last week. That’s the lowest since Freddie Mac began tracking rates in 1971.

The last time home loan rates were lower was during the 1950s, when most mortgages lasted just 20 or 25 years.

The rate on the 15-year fixed loan dropped to 4%, down from 4.03% last week and the lowest on record.

Rates have fallen since the spring. Yields on U.S. Treasury bonds have dropped as jittery investors seek safer investments. Mortgage rates tend to track yields on Treasurys.

To research your own situation, use our mortgage tools and read why you should use a local lender for your next transaction. We are here to help!

Housing starts rose to a 672,000 annual rate last month, exceeding the median forecast of economists, reaching the highest level since October 2008. Permits fell by the most since December 2008, a sign homebuilding will may pause after a tax-induced jump in sales.

Building permits, which are considered a leading indicator for homebuilding, fell 12% to a 606,000 annual rate last month. Applications for both single-family and multifamily projects decreased.

Starts rose 41 percent in April from the same month last year, the biggest year-over-year gain since 1994, while permits increased 16 percent.

Construction of single-family houses increased 10% to a 593,000 rate in April, while permits fell 11%. Work on multifamily homes, such as townhouses and apartment buildings, dropped 19 percent to an annual rate of 79,000.

Building is climbing after sales jumped following a government incentive of as much as $8,000 helped reduce the number of unsold new houses. Sales of new homes surged in March by the most since 1963, while purchases of existing homes rose for the first time in four months.

The jump in sales brought the number of new houses for sale down to 228,000, the lowest since March 1971, allowing builders more room to begin projects even as they compete with foreclosed homes coming back on the market.

To see new construction home listings in the Charlotte MLS area, go to our Charlotte Home Search website and remember to use the "new construction" radio button on the right.

The 2220 single-family homes and condos sold last month marked an increase of more than 25% compared with April 2009, according to results released by the Charlotte Regional Realtor Association.

That represented seven consecutive months of year-over-year increases and the largest increase since November 2009, when buyers rushed to close before the original expiration date of the tax credits. The credits were then extended until this April 30.

April’s sales also inched above 2003 levels, the first time that’s happened since the downturn walloped the housing market. Still, the number of deals remained below the 2004 count and well off the 2006 peak.

In another upside sign, sales in April posted the biggest jump from March in at least 8 years. That 17% monthly gain, following an even larger jump in March, is likely due mostly to the tax credit although there have been modest signs of economic recovery.

A 32% jump in pending contracts signals that tax-credit induced buying will continue fueling closings for another month or so. Pendings are signed deals that haven’t yet closed, and the 2988 contracts in April mark the highest number since the spring of 2008, just before the worst of the financial meltdown.

Tax credit deals had to be signed by April 30, but buyers have until June 30 for the final closing.

Pricing remained soft, with the average sales price of $201,410 essentially unchanged from a year ago. The gap between sellers’ asking prices and actual sales prices remained above 10%, about double the highest level before the downturn. That indicates sellers continue having to cut prices.

Go to Charlotte Home Listings Search to find active listings that match your criteria. Or do your own closed sales research here.

The vote marks a significant milestone in the progress of the bipartisan HOME STAR legislation, although it's important to note that the authorization bill passed today must be matched by the Senate, and followed up with an appropriation bill to allocate funds for the $6 billion program.

HOME STAR will create good American jobs in construction, manufacturing and related industries. It will help American homeowners improve the efficiency of their homes and save money. And it will provide a solid foundation for our country's energy policy and energy security.

If you are interested in seeing green homes for sale in the Charlotte metro market, sign up to have those listings sent to you.

The rule also applies to places where children under six spend large amounts of time, such as child care centers and schools. The certified contractor must provide the occupants (owner or tenant) with a new information booklet and must follow lead safe work practices.

There are several important exemptions to this rule:

1. Homeowner occupants or tenant occupants may do the work themselves without certification.

2. A residence where there are no children under 6 and no pregnant women as regular residents is a possible exemption.

3. If the area disturbed is less than 6 square feet indoors or 20 square feet outdoors, the project is exempt. Because lead paint was so prevalent on window frames in pre-1978 houses, window replacement on these homes is never exempt.

4. If a qualified lead test specialist certifies that no lead paint will be disturbed, the project is exempt.

5. There are a few additional less likely exemptions.

The required disclosure booklet is to be provided by the contractor, but you may wish to have it for your reference as well. You can get it at http://www.epa.gov/opptintr/lead/pubs/renovaterightbrochure.pdf (English) or http://www.epa.gov/opptintr/lead/pubs/renovaterightbrochuresp.pdf (Spanish).

To qualify, buyers must meet the following requirements:.

1. Owners of existing homes, specifically, taxpayers who have occupied the same property as a principal residence for 5 consecutive years during the previous 8 years, may now be able to claim a tax credit on a purchase of another home they intend to use as their principal residence.
2. The credit is for up to 10% of the price of the replacement home, capped at $6,500. The home must be placed under contract by April 30, 2010, and the closing must occur no later than June 30, 2010.
3. Members of the armed forces and federal diplomatic and intelligence personnel stationed overseas get one extra year to claim their credit.
4. The maximum purchase price on houses eligible for the credit is $800,000.
5. Purchasers are not required to sell their previous house, but they must be able to demonstrate that the replacement home is or will be their primary residence.
6. A copy of the signed HUD-1 settlement sheet, including the contract sale price and the date of closing. This is to document that the timing of the transaction meets the program's requirements.
7. Evidence of long-term ownership and occupancy of the previous home to meet the 5-consecutive-years requirement. This can be property tax records, homeowner's insurance records or IRS Form 1098 mortgage interest statements for the 5-year period.
8. For buyers claiming a credit on a newly constructed home, for which a HUD-1 settlement sheet is not available, the IRS will accept a copy of the certificate of occupancy showing the purchasers' names, the property address and the date.
9. Your modified adjusted gross income (AGI) must be $125,000 or less if you are single, $225,000 or less if you are married and filing jointly. Above these limits, the allowable credit amount begins to phase down in increments and is eliminated once incomes hit $145,000 for singles and $245,000 for married joint filers.

Be aware, you may have to repay the credit to the government if you sell your new home within 36 months after purchase, convert it to a rental or business property, or if your lender forecloses on the new house.

The legislation would extend the homebuyer credit to multifamily properties used as the borrower's primary residence. It would also eliminate income caps of $75,000 and $150,000 on individuals and couples seeking to claim the credit.

The Business Roundtable and the National Association of Realtors are pushing to expand the tax credit and to lower mortgage rates to revive the U.S. housing market. The proposed bill would extend the credit, which now applies to homes purchased from Jan. 1 to Dec. 1, 2009, to one year after the new measure is signed into law. It would make the credit available to all borrowers, not only borrowers who haven't owned a home in the previous three years as is the case under current law. It would also let borrowers divide the credit over two years. The legislation wouldn't be applied retroactively to purchases completed before the date of enactment.

The tax credit arrived as part of the American Recovery and Reinvestment Act of 2009 for qualifying taxpayers that buy homes in 2009. The law states that qualifying home buyers may claim up to $8,000, or $4,000 for married individuals filing separately, on either their 2008 or 2009 tax returns. Unlike the previous law which required recipients of the tax credit to repay the funds over a number of years without interest, the new home buyer credit effective with the passage of the act does not have to be repaid.

How? The owner did a great job of prepping the home to show by doing repairs, upgrades and moving out extra items before the first showing. That is so important as it was one of the first viewers of the home that bought it. Use our seller resources to help you get your home ready to list.

It was also priced fairly with careful inspection of recently sold comparables. The comments from the buyer's agent during the whole process validated that we had correctly valued the home as their valuation work overlapped ours closely. Proper home valuation with respect to what the market will bear is critical.

The home was also marketed online aggressively which is where most buyers are looking for listings and where our marketing expertise really pays off. Our Charlotte Homes website has grown its traffic and search engine exposure to the point where having your home listed with us and on this website will greatly increase your chances that buyers will see it in it's best light.

To help identify and purchase your next home after we sell your present one, use our Charlotte Home Search tool and get the latest information on listings as they enter the market and stay ahead of other buyers for the best homes for sale in our markets.

Pulte agreed to pay 0.975 of a share for each Centex share, valuing Centex stock at $10.50 per share, 38% more than yesterday's closing price of $7.62. The transaction, approved unanimously by both companies' boards, includes $1.8 billion in net debt.

The two companies are betting that by combining they will be better able to survive the soft housing market for new construction. The deal also will give Pulte access to states with stronger new home sales, including Texas and the Carolinas, especially the Charlotte NC region. The combined company we will have considerable presence in more than 59 markets across America.

To see listings actively marketed for sale in the Charlotte area by these two builders and others, visit our Charlotte Homes for Sale website and request a search be setup for you for new construction, the price range you require, the bed and bath configuration you desire, as well as many other variables.

The best in the neighborhood

John C. Walker, a Charlotte Realtor with Wilkinson & Associates, listed his house in Commonwealth Park near uptown for $195,000 last July. No takers.

Walker, who had lived in the house for 20 years before moving to Mint Hill earlier, knew the three-bedroom, two-bath home was in good condition. But it needed to stand out.

He took it off the market and went to work pressure-washing the vinyl siding, walkways, decks and garage floor. He and some relatives painted it one neutral color throughout and added plants and fresh mulch to the landscape.

Then he put it back on the market at $175,000 – $20,000 less this time.

Within 10 days, he was talking to the couple who eventually bought the house at the new price. The deal closed in December.

“I wanted and needed to sell the house,” he said. “I knew we needed to offer the best deal and the best-looking house in the neighborhood.

Aviation Career Education Academies

Charlotte Academy Music Camps, June 15-Aug. 7: The Charlotte Academy of Music offers instruction at summer music camps and a music technology lab with guest composers and performance opportunities. Professional music teachers create custom curricula for campers. Private and small-group instruction in piano, rock guitar, voice and musical theater; Musikgarten for kids from birth to age 5; and ensembles such as the Academy Children’s Choir and Chamber Ensemble are offered. 15040 Idlewild Road, Suite C, Matthews Call 704-545-7400 or visit www.charlotteacademyof music.com for dates and prices.

Equestrian Camp: Beginner through advanced riding instruction for kids ages 6-14 at Providence Equestrian Center. Camps include English riding, beginner position and technique, show prep, intermediate and advanced hunt seat and jumping. Providence Equestrian Center, 424 Waxhaw-Indian Trail Road, Waxhaw Cost: $325 per week. Extended care available for extra charge. For more information, visit www.providenceequestrian. com or call 704-843-5215.

Interested children need a prepared song, should be dressed to dance, and an accompanist will be provided. No appointments necessary. For more details on working and auditioning for Summer Theatre, visit http://arts.cpcc.edu.