Shannon Koch Video.
Tuesday, August 17, 2010
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Aug 2009- Aug 2010 and last 6 month Absorption Rates.
This data lets you know, statistically, how long your home may potentially be on the market.
UNLESS it's priced well and in premiere condition!
Data Provided by: Joe Tripoli, RE/MAX 4000
Tuesday, August 10, 2010
Mortgages: 15 yr rates slide below 4%
MORTGAGES
15-year rates slide below 4%, hitting historic low
A plunge in mortgage rates is giving homeowners a rare opportunity to lock in a 15-year fixed-rate loan for less than 4 percent.
Rates haven't dipped this low in decades. For those who can qualify, it's the chance to pay off a home in half the time while saving tens of thousands of dollars - if not more.
But the lower rates on short-term loans are not likely to ignite the refinancing market. Most people can't afford the higher monthly payments required by a 15-year fixed mortgage compared with a more traditional 30-year loan.
"That's not what most people need right now. They need lower payments," said Leif Thomsen, CEO of Walpole, Mass., lender Mortgage Master Inc.
The average rate on the 15-year fixed loan dropped to 3.95 percent last week, according to mortgage company Freddie Mac. That's the lowest on records the company has kept since 1991.
The average rate for a 30-year fixed loan fell to 4.49 percent. Rates haven't been that low since the 1950s, when longer-term mortgages typically lasted 20 to 25 years.
Rates have fallen since spring as investors seek the safety of U.S. Treasury bonds. That has lowered the yield on Treasurys. Mortgage rates tend to track those yields.
Rates on five-year adjustable-rate mortgages averaged 3.63 percent, down from 3.76 percent a week earlier. Rates on one-year adjustable-rate mortgages fell to an average of 3.55 percent from 3.64 percent.
The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount.
The nationwide fee for loans in Freddie Mac's survey averaged 0.7 a point for all loans.
This article appeared on page H - 4 of the San Francisco Chronicle
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/08/08/RE0F1EPHV4.DTL&type=realestate#ixzz0wE7pPDaW
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