We saw a lot of things the last few weeks, mortgage rates increased (again), the slow preceding two weeks were replaced with a larger number of contracts. Activity on the internet has increased the last few weeks as well. Summer has started and buyers are starting to schedule their High Country trips. Below is a recent news update from Freddie Mac:
Mortgage rates inched up this week, with the 30-year fixed-rate mortgage averaging 4.20 percent, Freddie Mac reports in its weekly mortgage market survey. It marked the second consecutive week that mortgage rates rose, after previously reaching yearly lows.
Freddie Mac reports the following national averages with mortgage rates for the week ending June 12:
30-year fixed-rate mortgages: averaged 4.20 percent, with an average 0.6 point, rising from last week's 4.14 percent. Last year at this time, 30-year rates averaged 3.98 percent.
5-year hybrid adjustable-rate mortgages: averaged 3.05 percent, with an average 0.4 point, rising from last week's 2.93 percent average. Last year at this time, 5-year ARMs averaged 2.79 percent.
*For a copy of the most recent Market Update (Market Absorption Rate 2014-06-16), please don't hesitate to call or email me at any time.
Regards,
Marc White
Broker In Charge/REALTOR
Realtor of the Year & Best of the Best 2013
Cash Realty & Cash Custom Homes
Call/Text 828-406-2134
Search 1,000s of Homes Instantly at www.MarcWhiteHomes.com
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