Friday, October 29, 2010

Well, a number of things to mention here:
First, interest rates continue near their all time lows. Although the 30o and 15 year fixed rates did tick up again this week, they are still within a few basis points of historic lows. For the uninitiated, a basis point is 1/100th of one percent. So, this type of change would be as if rates went from 4.21 to 4.23%--negligible. If you're thinking of buying, do it NOW! Sellers should also be encouraged by these rates available to their buyers.

Second, and I don't often talk about this here, but jobs are very slowly appearing to increase. The latest unemployment stats out the middle of this week showed reductions in first time claims, and increases of jobs reported. While I'm not even close to intimating that all is now well in the jobs market, it is an encouraging sign. More important, more people working means more folks able to buy a house. Again, sellers--maybe you should start thinking about moving on that decision to put your home on the market--or prep it so it's ready to go soon after the holidays.

Speaking of which: Happy Halloween!


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