August 2009 
There are 2 blog entries for August 2009.
Rates Ease Up Slightly
Wednesday, August 12th, 2009 at 4:20pm. 461 Views, 0 Comments.
Rates Ease Up Slightly
August 12, 2009
Freddie Mac reports a drop in the 30-year fixed mortgage rate to 5.22 percent during the week ended Aug. 6 from 5.25 percent the prior week. Over the same period, the 15-year fixed-mortgage rate slipped to 4.63 percent from 4.69 percent. As for adjustable-mortgage rates, the five-year fell to 4.73 percent from 4.75 percent, and the one-year dipped to 4.78 percent from 4.80 percent.
[SOURCES: Freddie Mac; Information, Inc.]
Market Good News
Tuesday, August 11th, 2009 at 5:42pm. 448 Views, 0 Comments.
According to the National Association of Realtors, Pending home sales are up for the fifth month in a row. This hasn't happened in six years and is a positive indicator for the real estate industry for the moment.
The Pending Home Sales Index is a forward looking indicator based on contracts signed. For the South Region we jumped 7.1% to 100.7 in June and is 8.9 percent higher than a year ago. Essentially what this means is that more and more listings are becoming under contract instead of the inventory increasing at a higher rate than demand.
Yes, a great deal of these are bank owned (REO) properties. But, we have to absorb these assets in to the market before a significant up-turn in the market can occur. Personally, I am seeing an increase in both…