OneJax and UNF Interfaith Center are presenting a program entitled "The Power of Religion: Practical Pluralism in a World of Difference" at UNF. Pluralism calls for dialog and encounter, give and take, criticism, and self-criticism. Please join Dr. Diana Eck, Director of The Pluralism Project at Harvard on February 28 at 7pm. Free tickets may be obtained at Capricorn.anf.unf.edu/ticketing/eck.asp.

Housing inventory is down 22.3% from a year ago and down 6% from a month ago, according to Realtor.com.

According to a New York Times article on January 5, borrowers who have a history of paying rent on time may see an increase in their credit score. Last year Experian, one of the large credit reporting companies, added a section to its credit reports to reflect on-time rental payments. These on-time payments help increase credit scores for some on-time rent payers. CoreLogic and FICO, two other large credit reporting companies, recently added a similar section to their reports. In a summary of the article provided to me by FloridaRealtors, it stated that nearly half of high-risk consumers saw an increase of 100 points or more after their rental history was added to their credit report. This change also helps former homeowners who went through a foreclosure. They may be able to rebuild their credit scores quicker by showing that they are responsible renters.

The average rate on 30-year fixed rate mortgages dropped to 3.9%. This is the lowest rate since records have been kept in the 1950's. For 15-year mortgages, the rate fell to 3.21% from 3.27%. This is also a record.

The interest rate for jumbo (large) fixed rate mortgages fell to a new record low of 4.68% on average. Rates for smaller loans (non-jumbo) are at historically low rates. I have been closing refinance mortgages with rates below 4%.

Effective October 1, 2011, Florida's Power of Attorney Act was changed. Now, certain powers have to be initialed by the principal in order for the agent to have the authority, such as banking transactions, insurance transactions, and investment transactions. Also, all powers of attorney have to be signed in the presence of two different witnesses and a notary public.

The U.S. Census Bureau has just reported that homeownership is at its second highest level on record, only behind the record year of 2000. The U. S. Census Bureau has been collecting homeownership data since 1890. While the national homeownership rate remains high, the decease from the 2000 rate was 1.1%.

How To Apply For a Mortgage Loan

It is more difficult now to obtain a mortgage loan. Here are five ways suggested by the National Association of Realtors® to help the process go smoother.

1. Get a free credit report. This won’t entitle you to a copy of your credit score (unless you pay for it) but it is important to review the report to make sure the information they have on you is correct.

2. Organize your financial documents such as two months worth of pay stubs, bank statements, and tax returns for at least the last two years. If you get alimony or child support, get up-to-date court records on those. If you recently changed your name because of marriage or divorce, make sure to update your financial documents.

3. Don’t do unusual financial things for several months. Don’t buy large items like a car or furniture.

4. Document the downpayment source. It might be from savings, from a money market account, or from an inheritance. If it is a gift from a relative, you will need to produce a gift letter.

5. Show a stable work history for the past two months.

According to the Federal Home Loan Mortgage Corporation (FreddieMac), the average rate on 30-year loans fell to 4.60%. This is the lowest interest rate since mid-December, and historically one of the lowest interest rates ever.

The 2010 Profile of homebuyers and sellers, conducted by the National Association of Realtors, shows the following:

In Florida 44% of recent homebuyers were first-time owners compared to 50% nationwide. The typical first-time buyer was 31 years old while the typical repeat buyer was 54. Of recent buyers, 19% were single females and 11% were single males, which almost matches the national statistics. The typical home purchase was 1,800 square feet with three bedrooms and two bathrooms.