Pending Home Sales Hit 6-Year High As Rising Mortgage Rates Help Propel Home Buyers
Mortgage Rates: New Record Lows Average interest rates for mortgages have been at historical lows for several. This is up from when they hit a record low of 3.3% at the end of 2012 but well. to refinance the remaining 20 years into a new 15-year mortgage.
After falling in May, pending home sales increased in June, rising 0.9% to a score 106.9 on the National Association of Realtors’ (NAR) Pending Home Sales Index.. However, on a year-over-year basis, contract signings were down 2.5% compared with June 2017. Regionally, monthly pending home sales increased 1.4% in the Northeast, 1.1% in the South, 0.7% in the West and 0.5% in the Midwest.
The Mukilteo Real Estate market is smoking hot this year!. The number of pending sales (mutually accepted offers) fell about 5.3. could outperform our expectations if inventory levels and mortgage rates. "First-time home buyers are probably being hit the hardest in this type of. Last Modified 6/12/2019.
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Email email@example.com or contact us at a location below:. Pending Home Sales (U.S.). 6. MOODY'S ANALYTICS / Regional Financial Review /.. Mortgage rates have also declined as scared inves- tors have piled into. Chart 3: China Should Hit Near growth target. 3. 4.. rates, with 10-year Treasury yields rising.
However, as South Florida residents have probably noticed, recover in some areas occurs faster than others, so waiting and waiting for a "bottoming out" of the market may not be the best move for buyers anymore. Source: Forbes, "Pending Home Sales Hit 6-Year High As Rising Mortgage Rates Propel Home Buyers,"
So far this year, we have seen some impact: The YOY growth in new home sales rates per community has declined every month this year, probably due to rising rates. The rate remains positive. This does not mean sales will decline 13%, but it does mean that sales should be 13% lower than would otherwise be the case.
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Pending Home Sales Hit 6-Year High As Rising Mortgage Rates Propel Home Buyers. Check out this article found at Forbes.com. Let us know what you think!! Posted by A-K Real Estate, Inc. at 8:00 AM No comments: Email This BlogThis!