RISMEDIA, March 25, 2011—According to the latest Spending and Saving Tracker from American Express, more than two in five (41 percent) of Americans said that it’s a buyer’s market for real estate. However, over 61 percent agree that a seller’s market is at least a year away.
Other findings:
• Homeowner confidence on whether they would receive the asking price for their home is nearly evenly split—43 percent said they are confident they would; 47 percent are not very or not at all confident.
• However, many homeowners—39 percent—are not willing to settle for less than the asking price, even considering the tough real estate market, in contrast to 23 percent who are willing and 38 percent who are not sure.
• To sell their home in the current market, 44 percent of homeowners note that they would be interested in including appliances, while 28 percent would consider offering to make requested repairs or allowing an allotment for repairs.
If your thinking of buying or selling, call Mike & Melody now.
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CURRENT RATES (PURCHASE TRANSACTIONS)
Conforming Loans: Loan amounts $417,000 & under*
30-yr Fixed = 4.375% Purchase Only
15-yr Fixed = 3.75% Purchase Only
NEW! Conforming 5/1: 3.375% amortized; 3.75% interest only
Conforming 7/1: 3.75% amortized
HOT PRODUCT Conforming 10/1: 4.25% amortized!!!**
Consult your Covenant Mortgage Professional for Refinance Quotes
Jumbo Loans:Loan amounts over $417,000*
5/1 ARM = 4.375%
7/1 ARM =4.625%
FHA Loans: *
30-yr Fixed Range= 4.25% - 5.25%
NEW! FHA 5/1 ARM: 3.5% Qualify at Start Rate
Call Me Now For More Details!
*Based on pricing as of Friday, July 16th, 2010 at 12:00PM. Prices, guidelines, and programs subject to change without notice. Subject to errors and omissions. This information is not intended to constitute an advertisement for purposes of the Truth-in-Lending Act or Regulation "Z". It is intended solely for use by Real Estate professionals.
Residential Mortgage Licensee: GA Licensee #22745, Florida Residential Mortgage Licensee#CL0800186, NorthCarolina Licensee #B-147025, Covenant NMLS# 144774
For More Information Call or Email
Phil Blankstein
Mortgage Planner
Cell 678-938-7111
phil.blankstein@mycovenantmortgage.com
NMLS # 251790
Labels: low mortgage rates, time to buy a home
