Right now is a perfect time to buy real estate even though some may be a little uneasy with the current financial situation in the United States. Statistics are showing that there are more homes being sold than a year earlier.
Existing home sales up 5.5%. That’s good news reflecting a buyer’s market, and the National Association of Realtors also said sales rose 1.4% versus a year earlier. The September data marks the first year-over-year increase since November 2005.
There are more people buying Cedar City homes as well as we have seen an increase in buyers moving into the Cedar City Utah area to enjoy the mountains and scenery.
Mortgages are often the number one factor in people deciding if they can buy real estate. Now interest rates are going down.
Mortgage rates plunge. A refreshing dip saw averages on 30-year FRMs fall from 6.46% last week to 6.04% this week. 5-year ARMs are averaging 6.06% and 1-year ARMs 5.23%; 15-year FRMs are averaging 5.72% (down from 6.14%).6
Veterans special rates: ERA Mortgage 100 % financing available with 1/2 point toward interest rate active duty 08/01/2004-until present. Contact ERA Mortgage for further details. 866.566.9732
