Monday, May 7, 2012 / by Carlos J Higareda
Mortgage rates are still low, and just got a little cheaper!
For home buyers or refinancers, borrowing costs for home ownership just got a little cheaper as mortgage rates took another dip to new all-time record lows this week, Freddie Mac reports in its weekly mortgage market survey.
"Signs of slowing economic growth and inflation remaining subdued allowed yields on Treasury bonds to ease somewhat and brought most mortgage rates to new all-time record lows this week,” says Frank Nothaft, Freddie Mac’s chief economist.
Here’s a closer look at average rates for the week ending May 3:
30-year fixed-rate mortgages: averaged 3.84 percent, with an average 0.8 point, reaching a new historical low. The previous record for 30-year rates was 3.87 percent, which was set on Feb. 9 of this year. A year ago at this time, rates averaged 4.71 percent.
15-year fixed-rate mortgages: averaged 3.07 percent, with an average 0.7 point, another historical low. The previous record f ...
Thursday, May 3, 2012 / by Carlos J Higareda
The market is heating up. Homes that are priced well and that are well maintained are selling quickly in Indianapolis, Greenwood, Fishers, Avon, Carmel, and surrounding area. Now is a good time to sell and a good time to buy since rates are low.
INDIANAPOLIS, Ind. – The statewide housing market out-performed itself on all but one indicator during the first quarter of 2012 when compared to the same three months – January, February and March – of last year.
According to the Indiana Real Estate Markets Report today released by the state’s REALTORS:
• The number of closed home sales increased 15 percent to 12,470; • The median sale price of those homes increased three percent to $105,599; • The average sale price increased 2.4 percent to $126,652; • The number of pending sales increased 15.7 percent to 15,328; and • The number of new listings increased 1.8 percent to 29,341.
The percent of original list price received did not increase ...
Tuesday, May 1, 2012 / by Carlos J Higareda
What can home buyers expect to face this selling season? An improving housing market has made it a different picture in many areas compared to recent years, housing experts say. A recent article at Bankrate.com notes some of the following trends taking shape in the housing market this spring:
1. Fierce competition.
Housing affordability is at record highs, due to falling home values and mortgage rates hovering near record lows. More buyers are taking notice and jumping off the sidelines. And mixed with sinking inventories of homes listed for sale, the competition is getting more fierce.
Investors are snapping up bargain prices, often in all-cash deals, which means greater competition for traditional home buyers too.
"Rents are going up, and as long as there are properties at the level where investors can get the positive cash flow, they will continue to invest," says Jed Smith, managing director of quantitative research for the National Association of REALTORS®. Smith add ...