So, is the Real Estate market back? Some believe it is, others are not so sure. While these recent reports point to improvement, it is still a far cry from where the market was before the financial crises of 2008. As we all know, the economy is growing at a very anemic rate and jobs are still a very big issue. While good news is encouraging many remain guarded.
WASHINGTON (October 20, 2016) — Existing-home sales rebounded strongly in September and were propelled by sales from first-time buyers reaching a 34 percent share, which is a high not seen in over four years, according to the National Association of Realtors®. All major regions saw an increase in closings last month, and distressed sales fell to a new low of 4 percent of the market.
Total existing-home sales , which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, hiked 3.2 percent to a seasonally adjusted annual rate of 5.47 million in September from a downwardly revised 5.30 million in August. After last month’s gain, sales are at their highest pace since June (5.57 million) and are 0.6 percent above a year ago (5.44 million). Read more
WASHINGTON, D.C. (October 19, 2016) –
Mortgage Rate report from the Mortgage Bankers Association
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to its highest level since June 2016, 3.73 percent, from 3.68 percent, with points increasing to 0.36 from 0.35 (including the origination fee) for 80 percent loan-to-value ratio (LTV) loans.
The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) increased to its highest level since June 2016, 3.72 percent, from 3.67 percent, with points increasing to 0.29 from 0.24 (including the origination fee) for 80 percent LTV loans.
Refinancing or buying a home doesn’t have to be Stressful
With rates so low many have refinanced at least once, even twice. But there are still many who have not, due to either not wanting to deal with the stress of gathering documents and not sure of qualifying for a loan. At North Atlantic you receive attentive personalized service
(see what our clients say).
Believe me, it’s a great deal easier with our help and expertise.
The average time to close a loan is about 30 days. We monitor real time interest rates, which is why our clients are able to access some of the lowest rates available. We understand the guidelines and know what different lenders can do, which incresaes your opportunites for a fast easy loan with a great rate.
Don’t put it off any longer and start saving with a lower mortgage payment. There are no salesman to speak with only qualified mortgage experts.
For a free consultation,
Call or Email:
John Sauro
Ph: 877-794-5363
Email: JohnSauro@Gmail.com
Sources: CNBC, Bloomberg, NAR, MBA