Saturday, October 16, 2010

Well, this week's news is pretty much more of a little bit of good news. Prices in general (and, yes, there are exceptions based on specific locales) continue to show an upward direction. No, they're not rocketing to the moon as they seemed to do on a daily basis a few years ago, but the general trend appears to continue upward. Forecasts are for an increase in 2011 of 2-4% in values. Better than a sharp stick in the eye--or anywhere else for that matter.

Interest rates; just when everyone thinks the latest record can't possibly be broken, another week goes by and there is a new record low! For this week, thirty year fixed rates are now averaging a new all-time low of 4.19%. If that's not enough to get you excited, how's this--fifteen year rates, fixed, are also at an all-time low of 3.62%. Neither figure is a typo, so get out there and buy if you're looking for a home. If you're trying to decide about selling, what better time? Your buyers can more easily afford your home, and you, likewise, can qualify for a loan to buy your new home!
Good luck!


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