South Bay Vision | Market Update | November 2014Blog, Market Updates, Real Estate News
Although the interest rate on a 30-year fixed-rate mortgage rose slightly in September (to 4.16% from 4.12% in August), it was below the year ago rate of 4.49%. “Less rapid price gains taken together with low mortgage interest rates should help improve housing affordability through the remaining months of this year.” (Read more) Rates haven’t been this low since 2013 according to Freddie Mac. With a 30-year fixed-rate averaging 3.92% and 5-year adjustable rate mortgages averaging 2.91%, now may be the time to buy.
Please enjoy. Should your plans include real estate purchase and sales, please call or email with questions – and as always, thanks for your referrals.
Sources: Kimberly Ritter / e-EDGE v.18 n.42 10/30/14
C.A.R. Expo Leslie Appleton-Young October 7, 2014
For the entire article, including charts & stats, click >HERE<