Friday, July 01, 2011

Well, a couple of good things in the news this week as we head to the July 4th weekend (watch those fireworks!):
First, interest rates continue at or near record lows as even the Fed has shown no inclination in the near term to raise them. This is definitely a good sign if you're thinking of buying. Prices are still low compared to 3-4 years ago, but they won't remain there for long. If you're thinking about a purchase, call your mortgage broker or banker and start the process by getting pre-approved.

Second, in another seemingly contradictory move, prices as reported by another major industry resource have climbed for the second straight month nationally. According to Core Logic, prices in May rose 0.8% over a month earlier, the second consecutive monthly rise. This on top of a positive Case Shiller report earlier in the week seems to bode well for the market. It also is good news for those of you thinking of selling, but hesitant to do so in a down market. The question now is will this continue, or is it another up move in a constantly up and down market price track? Stay tuned and we'll get you the info as soon as it's available.

Happy 4TH!


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