Sunny News in Real Estate

November 6, 2008

It's still a buyer's market out there!Despite the ups and downs on Wall Street, the US housing market has looked promising over the last couple of months.  In fact, just last week, sales figures of existing homes across the country were up 5.5% (the highest jump since the middle of the housing boom in July 2003).  Many of these sales were foreclosures, meaning a lower sales price.  New construction was up 2.7% nationwide last month as well.  Since many people are gobbling up the lower priced homes (especially those in foreclosure), the former glut of inventory now seems to be getting smaller, indicating the beginning of a possible leveling out of the housing market.  Mortgage applications were on the rise as well thanks largely to the decreased rate of 6.26% for 30-year fixed rate loans and 6.1% for 15-year loans.  Conventional loan mortgage applications were up 7.9% and FHA insured loan applications were up by 10.1%.  As the real estate outlook continues to look better, it is important to keep in mind that now is still a great time to buy a home or investment property.  Don’t miss out!

Advertisements

4 Responses to “Sunny News in Real Estate”


  1. […] Rich Cooke wrote an interesting post today onSunny News in Real EstateHere’s a quick excerptConventional loan mortgage applications were up 7.9% and FHA insured loan applications were up by 10.1%. As the real estate outlook continues to look better, it is important to keep in mind that now is still a great time to buy a home … […]


  2. […] Rich Cooke wrote an interesting post today onSunny News in Real EstateHere’s a quick excerptConventional loan mortgage applications were up 7.9% and FHA insured loan applications were up by 10.1%. As the real estate outlook continues to look better, it is important to keep in mind that now is still a great time to buy a home … […]


  3. Thanks for the information…I bookmarked your site, and I appreciate your time and effort to make your blog a success!


  4. […] Rich Cooke wrote an interesting post today onSunny News in Real EstateHere’s a quick excerptConventional loan mortgage applications were up 7.9% and FHA insured loan applications were up by 10.1%. As the real estate outlook continues to look better, it is important to keep in mind that now is still a great time to buy a home … […]


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: