Most Secure U.S. Cities

Health, prosperity, safety and security are all desirable aspects when it comes to seeking a place to live, work or raise a family. According to our fourth annual Most Secure U.S. Places to Live rankings from Farmers Insurance Group of Companies®, the city that best meets those qualifications is Corvallis, Ore.

The rankings took into consideration crime statistics, extreme weather, risk of natural disasters, environmental hazards, terrorism threats, air quality, life expectancy and job loss numbers in 379 U.S. municipalities. The study divided the communities into three groups: large metropolitan areas, mid-size cities and small towns.

Corvallis is the fourth different city in four years to earn top honors in the Farmers study. The leading communities in the three previous studies were: the Provo-Orem, Utah, area in 2004; the Richland-Kennewick-Pasco area of southeast Washington in 2005; and St. George, Utah, in 2006.

Top-ranked Corvallis, whose population of 81,105 places it among the small towns, is nestled in the heart of Oregon's Willamette Valley and is home to Oregon State University. In 2006, Corvallis was honored as only the third U.S. city at that time to meet the EPA's challenge to become a Green Power Community. Corvallis' low crime rate and negligible threats of extreme weather, environmental hazards and terrorist threats led to its No. 1 ranking in the 2007 Farmers study.

The San Jose-Sunnyvale-Santa Clara area in northern California's Silicon Valley tops all large metropolitan areas (population of 500,000 or greater), scoring particularly well in the extreme weather and terrorist threats categories. The area is considered one of the leading research and development centers of the world; in 2005, San Jose and Sunnyvale ranked first and second in the number of utility patents filed in the U.S.

Olympia, Wash., is the most secure mid-size city (population between 150,000 and 500,000). The state capital has become a hub for artists and musicians. The extremely clean air and the long life expectancy of Olympia's residents aided its lofty ranking.

Large Metro Areas (500,000 or more residents)

1. San Jose-Sunnyvale-Santa Clara, Calif.

2. Boise City-Nampa, Idaho

3. Bethesda-Gaithersburg-Frederick, Md.

4. San Francisco-San Mateo-Redwood City, Calif.

5. Oxnard-Thousand Oaks-¬Ventura, Calif.

6. Bridgeport-Stamford-Norwalk, Conn.

7. Nassau County-Suffolk County, N.Y.

8. New Haven-Milford, Conn.

9. Lake County, Ill./Kenosha County, Wis.

10. Honolulu, Hawaii

11. Portland-South Portland-Biddeford, Maine

12. Cambridge-Newton-Framingham, Mass.

13. Edison, N.J.

14. Portland-Beaverton, Ore./Vancouver, Wash.

15. Santa Ana-Anaheim, Calif.

16. Madison, Wis.

17. Seattle-Bellevue-Everett, Wash.

18. Rochester, N.Y.

19. Syracuse, N.Y.

20. Essex County, Mass.

Mortgage Applications Surge

Mortgage Applications Surge

Mortgage applications rose 33.4 percent last week on a seasonally adjusted basis, rising to 661.7 from 496.2 the previous week, according to the Mortgage Bankers Association weekly survey of mortgage activity. Total applications reached their highest level since early May.

On an unadjusted basis, the index rose 65.3 percent compared with the previous week, which was shortened by Labor Day. It was down 1.3 percent compared with the same week a year ago.

Refinances fueled the increase. The Refinance Index increased 88.1 percent while the seasonally adjusted Purchase Index increased only 2.4 percent. The refinance share of mortgage activity increased to 51.6 percent of total applications from 36.3 the previous week.

“Renewed financial concerns should keep long-term Treasury yields low and translate to lower mortgage rates in the near term, despite some widening in mortgage spreads,” says Orawin Velz, MBA’s Associate Vice President of Economic Forecasting in a statement. “We expect to see meaningful increases in mortgage demand in coming weeks on both the purchase and refi sides.”

Mortgage rates fell for the week:

• 30-year fixed-rate mortgages decreased to 5.82 percent from 6.06 percent.
• 15-year fixed-rate mortgages decreased to 5.54 percent from 5.73 percent.
• 1-year ARMs decreased to 6.95 percent from 7.00 percent.

Why This Autumn is a Great Time to Buy

This fall could be a particularly great time for first-time or buyers long out of the market to jump in, say a variety of real estate professionals.Here are the reasons why:

Prices are probably as low as they are going to go as the market stabilizes, thanks to the government takeover of Freddie Mac and Fannie Mae.

Interest rates are likely to decline as Freddie and Fannie get government help.
The Federal Housing Administration recently boosted its loan limits to $729,750 in expensive areas. It's going to take some of that back come Jan. 1, when the loan limit will shrink to $625,500.
The FHA allows down payments of as little as 3 percent, but that will rise to 3.5 percent as of Oct. 1. People scraping dollars together for a down payment should try to set their closing for the end of this month.
The tax credit will shave $7,500 off a first-time buyer’s federal tax bill due April 15.
Buyers who don't owe tax, will get the money as a refund.
The government's definition of a first-time buyer is anyone who hasn’t owned a home in the last three years.