Monday, October 4, 2010

Mortgage rates going lower, home sales going higher

Finally it seems like things are starting to loosen up in home sales, thanks to record-low mortgage rates. At the end of September, Freddie Mac said that 30-year mortgage interest rates were averaging 4.32 percent - that is awesome! At that number, 30-year rates tied the lowest on record; while 15-year rates were hovering around 3.75 percent, which set a new record low.

In response, the number of home sales started increasing in the last couple months. A report from the National Association of Realtors (NAR) shows a steadily improving market. The Pending Home Sales Index, which is a gauge of future home sales, increased from July to August.

If you are ready to buy a house, or sell your current house, please contact me at I'm a little busy in the tractor, but I would love to work with you and meet your real estate needs.

Noah Hultgren
The Farmland Man