The latest here as the third quarter of 2011 ends--where has the time gone?! If you can believe it, Thanksgiving is only 54 days away! A few bright spots locally and nationally this week: housing values inched up on average from their levels of a year ago. It wasn't much, but it was up! Also, rates continue to drop. I feel like Chubby Checker in his song, "Limbo Rock". "How low can you go?" Thirty year fixed rate fully amortizing loans were priced at a rate of 4.01%! Not a typo--as the Fed keeps trying to provide support to the economy, rates are sliding down. If that number isn't enough to get your juices flowing, try this one: 15 year fully amortized rates are at 3.28%. At this rate, the banks may soon be paying you to borrow from them. I can dream, can't I?
Seriously, rates like these bode well for both buyers and sellers, as I've been saying for quite some time now. It's obvious why for buyers, but sellers also benefit as more folks thinking about buying jump into the market, and that could be your house they spend this incredibly cheap money on. Why not?
So, whether you're a buyer or seller, or just need some info on what's happening in the market, give us a call. AS always, we're always ready to help.