Recent RMLS reports show pending sales going up, closed sales going up, and new listings going down. This is shifting the supply & demand curve in favor of sellers. Already we are seeing multiple offers in several areas of the city and numerous full price sales. Many agents report multiple offers in the double digits.
For expert advice on selling or buying a home in today's rapidly changing market, please give us a call.
www.cityproperties.re www.bpr.com www.SLLHomes.com
Tuesday, May 15, 2012
Friday, May 11, 2012
How low can interest rates go?
For the second consecutive week, fixed-rate mortgages reached new
all-time records lows, offering another big boost to home buyer
affordability.
The 30-year fixed-rate mortgage averaged 3.83 percent for the week ending May 10, posting a new record low from last week’s 3.84 percent average. The 15-year fixed-rate mortgage also posted a new record, averaging 3.05 percent this week.
Here’s a closer look at mortgage rates for this week:
For more information about our teamm please visit our website www.cityproperties.re.
For condo information visit www.bpr.com
For single level living visit www.sllhomes.com
The 30-year fixed-rate mortgage averaged 3.83 percent for the week ending May 10, posting a new record low from last week’s 3.84 percent average. The 15-year fixed-rate mortgage also posted a new record, averaging 3.05 percent this week.
Here’s a closer look at mortgage rates for this week:
- 30-year fixed-rate mortgages: averaged 3.83 percent, with an average 0.7 point, down from last week’s previous record of 3.84 percent. A year ago at this time, 30-year mortgages averaged 4.63 percent. The 30-year fixed-rate mortgage, the most popular choice among home buyers, has averaged below 4 percent for nearly every week — except for one — since Dec. 8, 2011, according to Freddie Mac.
- 15-year fixed-rate mortgages: averaged 3.05 percent, with an average 0.7 point, dropping from last week’s previous record low of 3.07 percent. Last year at this time, the 15-year fixed-rate mortgage averaged 3.82 percent.
- 5-year adjustable-rate mortgages: averaged 2.81 percent, with an average 0.5 point, dropping from last week’s 2.85 percent average. Last year, 5-year ARMs averaged 3.41 percent.
- 1-year ARMs: averaged 2.73 percent, with an average 0.5 point, rising from last week’s 2.70 average. A year ago, 1-year ARMs averaged 3.11 percent.
For more information about our teamm please visit our website www.cityproperties.re.
For condo information visit www.bpr.com
For single level living visit www.sllhomes.com
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