Housing Affordability Rises at the end of 2010

Lots of potential Buyers are missing out by sitting on the sidelines and not purchasing.  With today’s low prices and low interest rates, there is not reason to wait!

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Impressive Jump in Sales !

Existing home sales rose again in September.  Those sales included single-family, townhomes, condos and co-ops which jumped 10% in September.  Not only have existing homes sales increased, but according to Freddie Mac, the national average interest rate for a 30 year conventional mortgage fell to a record low of 4.35% in September, from 4.43% in August.  In comparison 2009 featured 5.6% rates.

“A decade ago, mortgage rates were almost double what they were today, and they’re about 1.5% points lower than the peak of the housing boom in 2005”.   According to the National Association of Realtors’ President, Vicki Cox Golder.