Freddie Mac released the results of its Primary Mortgage Market Survey; long term mortgage rates continue to creep upward but by the end of the week, mortgage rates had broken a seven-week rise to dip back below the key 6.00 level.

In a report issued by the The National Association of Realtors David Lereah, NAR's chief economist, said the housing market appears to be in the early stages of settling down.

"... home sales were surging at unprecedented levels for most of last year," Lereah said. "The cooling we expect in sales this year means we'll be transitioning from a white-hot housing market, into a very strong market that still favors home sellers, but should become more balanced as the year progresses. The long-term population growth and demographic trends show the fundamental demand for housing will remain historically strong going forward, so housing will continue to support the U.S. economy and will remain the soundest investment most families will ever make."

If you are one of the millions of retirees, Realty Times' columnist Lew Sichelman has a great article listing the best, but most unexpected cities, in which to live. Surprisingly, Pittsburgh is on this list. He reports Pittsburgh offers excellent transportation, retail services, health care, and a mix of cultural and recreational activities unmatched by other cities of its size. Many of the other nine cities are equally surprising -- be sure to go to Realty Times and read "The Most Popular Places Are Not Where You'd Expect ."

Also this week, Realty Times' columnist Peter Miller weighs in on the pros and cons of prepaying your mortgage. Not surprising, it depends on your financial situation. "You can buy today with no money down and use your cash elsewhere. Also, the money used to prepay a loan can just as easily be devoted to other investments, including some with higher effective yields," writes Miller. "For most people, putting an extra $50 a month into a mortgage means collecting change at the end of the day, or not dining out once a month. In effect, prepayments are simply a better way to use money that might otherwise disappear." Learn more by reading "Should You Prepay Your Mortgage ?" on Realty Times.

For more information on these and many other topics about buying a home, selling a home, or choosing a Realtor, please visit Realty Times at www.realtytimes.com . Realty Times is the leading publication dedicated to helping consumers in their pursuit of home ownership.

Realty Times' Market Conditions Reports

In Edina, Minnesota, it has been very surprising how hot the market has been these last few months according to our local Realtor experts. Usually it slows down in November and doesn't pick up till late February or March, but this year the phones kept ringing. Single-family homes that were sold and closed during the month of February and March had an average sale price of $427,000, and a median price of $382,000, with an average days on market of 61 days. With the spring market, Realtors have been seeing a great influx of homes hitting the market. Along with those homes, they have also seen the buyers. The ratio is trending towards more homes than buyers which should make for an interesting spring market. Sellers shouldn't fret; the key is to put the home in tip-top condition and price it correctly. Homes that are presented well and that are priced right will sell.

Kensington, Maryland, part of the Washington Metro area, has had continual growth for the past four years. According to our local experts, prices are up and competition in home sales is fierce among buyers. Now is a great time to sell, as well as a good time to buy, due to the steady interest rates available. The market trends and forecast shows that prices will remain steadily upward and the market will remain strong for 2005. Rates may increase a bit throughout the year but will still be attractive to buyers.

Our local Realtor experts in Bend, Oregon, tell us that the Central Oregon Real Estate Market is hot. Real estate is moving like hot potatoes with home shoppers and Realtors working hard to keep up with the pace. The Bend market is unbelievably busy. Much of the demand for not only high-end market, but across the board, is coming from out-of-state markets. Most of the buyers are coming from California. In such a hot market, it's common for multiple buyers to be interested in the same homes, according to our Realtors there. People definitely have to be prepared to move quickly once they find the home they are looking for. Buyers should expect prices to climb, too. When land supplies are restricted, sales are naturally forced in to higher prices.

Bottom line advice to those about to embark on a journey into the Central Oregon real estate market -- if you're buying, get ready to act fast, and if you're selling, start packing.

This week, Realty Times TV viewers asked:

Mary from Detroit asks: We now rent, but are buying a house. Is there a way to break the lease early because we are about to become first-time homeowners?

Answer: It's good that you are about the buy a home. However, the landlord also has interests; if you break the lease you may face a variety of damages. Instead, try this: speak with the landlord. Explain your situation. It may be the owner will be able to find a new tenant for the balance of your lease and thus, minimize or eliminate any damage claims.

Tom from Cincinnati asks: I contracted with a builder to build a $430,000 house. The contract closing date was to be Sept. 30th -- last year! I have also added over $40,000 in upgrades. It's now April '05, the appraised value from four different appraisers is less than $400,000. Do I have any recourse or remedy?

Answer: There are several issues here.

First, that construction was delayed is likely permitted in your sales agreement, especially if it is the builder's form. Second, that the value has changed does not mean your original agreement is somehow invalid. Had the appraised value risen would it be okay for the builder to break the contract and sell to someone else for a higher price? Third, what about financing? If a lender will no longer provide such financing as was required in your agreement, is the deal still on? Have an attorney look at the sale agreement for specifics.

Jennifer from Michigan asks: I'm concerned that my house isn't going to sell. I just put it on the market ten days ago and have had only four or five agent showings and eight people show up at my first open house. Do real estate agents actively market homes they are selling to other real estate agents, or is it the norm to do mostly advertising?

Answer: Ask you broker how many days a home in your community is typically on the market. That will give you some idea of local selling conditions.

However, all properties are unique. It can happen with two similar homes, that one stays on the market far longer than the other.

In just a few days your broker has had an open house for the public and has made the property available to a number of local brokers. This seems very sensible and reasonable, the broker appears to be marketing the house as promised.