June’s “This Month in Real Estate” video has been released. This edition”s top story concerns the most common repairs made to a home prior to its sale. Several market statistics for the year thus far are also included, revealing that the median sales price for homes nationally is $164,000 with mortgage rates continuing to decline. For the full story and more, click the “Play” button below.
For more information on the real estate market or to speak to one of our agents about buying or selling a home, contact us today!
Currently, a prospective buyer who takes out a 30-year mortgage loan can expect to pay approximately $50 more per month (based on purchasing a $170,000 home with a 20 percent down payment) compared to October, when rates stood at 4.2 percent.
Despite the jump in rates, relatively low home prices indicate that affordability will continue to remain high for some time.
For more information on real estate market trends, contact us today!
On the heels of several weeks of rising, the national fixed 30-year mortgage rate dipped this week, according to an Associated Press report.
The report, featured on MSNBC Real Estate, also noted that rates have been rising since November, suggesting that time is running out on capitalizing on what are still considered low rates.
For more information on the current market and where it may be headed in 2011, contact us today. A Keller Williams associate would be happy to be your guide in the home search or home sale process.
According to a recent REALTOR® Magazine report, the average rate for a 30-year fixed mortgage increased from 4.46 percent to 4.61 percent last week.
Many industry experts believe that homebuyers will begin purchasing more rapidly as interest rates increase in order to avoid higher payments in the future.
For more information on buying or selling a home, contact us today!
According to a recent Freddie Mac survey, U.S. 30-year fixed-rate mortgages fell to 4.27 percent for the week ending October 7, down from 4.32 percent the week prior. This is the lowest rate ever recorded since Freddie Mac began surveying in 1971.
Meanwhile, loan demands have seen an increase over the past few weeks according to data from the Mortgage Bankers Association. Demand is currently at its highest level since May.
Now is a great time to take advantage of these record low rates! Contact us today for more information!