3.53 percent was the average on 30 year fixed rate loans according to a Freddie Mac survey released last week.  An Inman News article, dated Feb. 7, also said that "Demand for purchase loans up 16 percent from a year ago" and up 2 percent in from the prior week in the last week of January.  Rates on 15 year fixed rate loans are also down averaging 2.77 percent.  Click here Continue Reading

This mirrors a recent report by The National Association of Realtors, cited in CNNMoney, that home sales in the US in 2012 were the best in 5 years   The CNNMoney article attributes the increase in sales nationwide to the same factors that have contributed to increased sales in our market; record low mortgage rates, lower unemployment and depressed home prices.  It goes on Continue Reading