Freddie Mac reports that the 30-yr fixed conventional mortgage rate is at 3.41% this week, but to obtain that rate, a borrower would have to pay a 0.7 point. The 15-yr rate is at 2.64% when paying a 0.7 point.
- Lack of Existing Home Inventory Slows Sales Heading into Fall [INFOGRAPHIC]Some Highlights: The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report. First-time homebuyers made up 31% of all sales in August. Homes are selling quickly with 51% of homes on the market for less than a month. A limited supply continues to drive up prices for the 66th consecutive month.
- Why Are So Few Homes for Sale?There is no doubt that the largest challenge in today’s housing market is a lack of housing inventory for sale. This challenge has been defined as an “overwhelming lack of supply,” and even a “straight up inventory crisis.” First American just released the results of a survey which sheds light on the reasons for the […]
- More Americans Say Now is a Good Time to Sell!Recently released data from Fannie Mae’s National Housing Survey revealed that rising home prices were the catalyst behind an eight-point jump in the net percentage of respondents who say now is a good time to sell. The index is now 21 points higher than it was this time last year. Overall, 62% of Americans surveyed […]
- Lack of Existing Home Inventory Slows Sales Heading into Fall [INFOGRAPHIC]