Mortgage Rate Continues To Fall

Dated: 09/27/2016

Views: 147

Freddie Mac announced long-term mortgage rates have dropped to 3.48% from 3.5% on Thursday. A year ago, the rate was 3.86% and is now edging closer to the all-time low of 3.31% from November 2012, according to a recent article from floridarealtors.org. (http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=3&id=343160) Although rates continue to fall, sales prices are rising due to a lack of inventory in most markets. According to the National Association of Realtors, last month saw a second straight month of decline in homes sales. 

As we continue to see a shortage of supply of homes for sales, we may continue to see an increase in listing price. This may be artificially boosting sale prices and not accurately reflect actual values, but try telling that to a seller. As the job market continues to improve, we should see continued demand for housing but unrealistic prices may keep those same buyers renting their home instead of buying.

If you're interested in buying a home, contact me today to take advantage of these historically low interest rates. And if you're in the market to sell, now is the time so don't wait. Call me today at 407-579-1423!


Latest Blog Posts

Equity Growing In Lowest Tier Report

Equity Growing in Lowest Tier: ReportBy RISMedia Staff Buyer demand is highest for starter supply—and entry-level homes are appreciating faster than others as a result, according to an

Read More

Amazon Closes In What Hq2 Means For Housing In The Top 20

Amazon Closes In: What HQ2 Means for Housing in the Top 20By Liz Dominguez Amazon is a step closer to finalizing its HQ2 plans, having narrowed its sights on the top 20 contenders after

Read More

Survey Finds Hidden Costs Of Homeownership

Survey Finds Hidden Costs of HomeownershipBy Taylor Tepper  Share This Post Now!(TNS)—Your day burns brightly on both ends.You prod your kids out of bed at daybreak, get them dressed, fed

Read More