Quick Hits: Rates at 3.88, Pending Home Sales Rise
Today in Quick Hits, interest rates remain near historic lows and pending home sales rise.
- This morning, Freddie Mac reported 3.88 percent with an average 0.7 point as the average on a 30-year fixed mortgage. A year ago, 30-year fixed rates were at 4.78 percent.
We have been saying this frequently in past weeks, but it bears repeating: the rates reported by Freddie Mac for 30-year mortgages are usually the best rates that the most qualified borrowers can get, so borrowers or those considering refinancing should not necessarily read this news and think that they can go out and get a loan with the quoted interest rate. Still, rates remain near historical lows.
- The number of contracts to purchase previously-owned homes rose 4.1 percent between February and March, the National Association of Realtors reported today. The Pending Home Sales Index is a forward-looking indicator based on contract signings. The March contract numbers were 12.8 percent higher than March 2011, and the index is now at its highest level since April 2010.
See other articles related to: fannie mae, freddie mac, mortgage rates, national association of realtors, pending home sales
This article originally published at https://dc.urbanturf.com/articles/blog/quick_hits_rates_at_388_pending_home_sales_rise/5466.
Most Popular... This Week • Last 30 Days • Ever
In this article, UrbanTurf will explain what special assessments are, how they work, ... read »
Plans are moving forward at the site of a long-planned project in Ivy City, however w... read »
Nearly 1,400 residential units are on the boards around Union Market, about the same ... read »
Up 8% year-over-year, it is the first time that prices have exceeded $800,000 for det... read »
If there was ever a place where the old adage “one man’s trash is another man’s... read »
- What Are Special Assessments in Condo Buildings and What Do They Cover?
- Douglas Development Pitches Large Warehouse For New City Site Along New York Avenue
- Hotels, A Public Park and The 1,400 Units In The Works For Union Market
- The Price For A House in The DC Area Hit A New High in April
- Tile, Furniture, Appliances & (Much) More -- The Local Warehouse Chock Full of Salvaged Home Goods
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro