Well, when last we spoke, things were up & down on the financial markets, but there were some improvements locally on housing. Interest rates had also plummeted to new all time lows. Well, this week, it's been more of the same. After a good start to the week on the stock markets, things have slid again, concern over European markets being the main source of concern. Meanwhile, interest rates have dropped even further to new 'all time' lows. Rates for 30 year fixed loans are at 4.15%, and for those of your wanting 'freedom' even sooner, 15 year fixed loans are priced at 3.35%. This is good for buyers, which obviously means that sellers will be close behind in receiving the benefits of such pricing.
Locally, sales for the month of July were marginally lower than a year ago, both in terms of prices received and numbers sold. However, most analysts feel that is a monthly blip and should reverse next month. Basically, we are entering our usual early autumn (yes, it's a few weeks early) mini-boom for selling. Buyers are hot, have cash in hand and are seriously looking. If you're a seller, move quickly! If a buyer, what more do you need than these rates?
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