Chris Farkas
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Lending Trends - Bellingham Homes For Sale
Freddie Mac reported that the national average commitment rate for a 30-year, conventional, fixed-rate mortgage dropped to 5.22 percent in July from 5.42 percent in June. This is a dramatic rate reduction compared to the 6.43 percent rate available in July 2008. According to a survey by NAR, first-time buyers accounted for 30 percent of homes purchased in July, while distressed homes accounted for 31 percent of transactions.
1 comment • Chris Farkas • September 24 2009 06:25PMComments
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Rates are crazy low right now. The thing is, buyers are starting to think they have always been this low... They don't beleive me when I tell them rates are going to go back up.