The housing market appears healthier than a year ago. Perhaps that isn’t saying much, but the progress is tangible. Existing home sales improved 7.7% in August, putting them + 18.6% from a year earlier. There were 3.2% more housing starts in August, and that indicator registered 7.8% annual improvement. August data also showed 12-month gains in new home sales (6.1%) and pending home sales (7.7%).
How low could mortgage rates go? In September, the short answer was “even lower”. Homeowners who could manage a refi were looking at a 3.28% average rate for the 15-year fixed on September 29 according to Freddie Mac’s Primary Mortgage Market Survey. That was down from 3.39% on September 1. The average rate on the 30-year FRM was a milestone 4.01% on September 29; it had been 4.22% on September 1.
Now is the time to buy with rates being so low!!! Call us today for some good purchasing opportunities in real estate.
MVP Investments, LLC, dba Mtn. View Properties2100 W. Highway 90, Alpine, TX 79830(432) 837-5518www.mtnviewproperties.com