Fixed mortgage rates remain at near record lows according to Freddie Mac, with the 30-year average at 3.9 percent for the week ended March 1. For the same week, 15-year fixed loans were 3.17 percent.
Meanwhile, the National Association of Realtors (NAR) members were polled recently for their confidence index and were upbeat to the tune of 67 percent predicting some price gains in housing. Agents who participated in the NAR survey reported a slight fall in median time on the market. Unfortunately a recent CoreLogic report showed almost 28 percent of homeowners were at or near underwater at the end of 2011.
Keep in mind that if you sell your home at a lower price than you hoped for, you can often make up the difference or more when you buy another home; particularly if you plan to buy a more expensive home.
Thursday, March 8, 2012
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