In its weekly update, Freddie Mac says national mortgage rates have dropped across the board and remain near record lows.

Thirty year fixed rate mortgages stand at 3.41% (compared to 3.9% one year earlier) and fifteen year fixed rate mortgages stand at 2.64% (compared to 3.13% a year ago).

Adjustable rate mortgages went in two directions. One year ARM’s jumped slightly to 2.63% but 5/1 ARM’s fell to 2.60% which Freddie Mac states is the lowest it’s been since it began to track in 2005.

Strongest year-over-year home price increase since 2005!

The national median existing single-family home price is up 10%!

According to the National Association of Realtors the 4th Quarter of 2012 number was $178,900 up from $162,600 for the 4th Quarter of 2011.

Home sales are showing sustained improvement with pent-up demand, new jobs, and mortgage rates continuing to hover near record lows.

The holidays are a time for giving. This year, we donated $1250.00 to The Greater Boston Food Bank!

This really could be the right time to buy. At least Warren Buffet seems to think so. The Oracle of Omaha is making a huge bet on the real estate market.

His HomeServices of America has bought a major stake in two big real estate networks, the Prudential and Real Living brokerages. In addition, he will launch his own Berkshire Hathaway branded brokerage franchise.

What does this mean? It’s hard to say but such a move by Buffet could mean the housing market is entering a new and more profitable phase.

That’s only the latest example of positive news about the market. New single family home sales were up in September to a 2-1/2 year high. We’re still a long distance from pre-recession norms but this is the kind of news that may make this the time for you to buy a house.

Here’s more. If you buy now, you can lock in mortgage interest rates at or near historic lows. That can save you significant sums of money month after month because, one of these days, those rates will rise.

Our good news also includes construction of new homes.

FNE contributes to the Pan Mass Challenge. One of our employees, Julie, was a volunteer supporting the riders over the PMC weekend. Up before dawn each day as some riders get out early to beat the heat, thank you to Julie. Our company also made a $1,000 donation to the PMC. Thank you to all who support the PMC.