Mortgage brokers say Monday was the busiest day they can remember in the last couple of years according to Dina ElBoghadady and Renae Merle with The Washington Post.
According to Freddie Mac, based on their weekly survey they found a drop in the 30-year fixed mortgage rate to 6.35 percent from 6.46 percent this time last year. There was also a decrease in the one-year Treasury Index Arm to 5.15 percent from 5.74 percent on this date a year ago, while the 15-year fixed rate dropped to 5.90 percent from 6.15 percent at this time last year.
On a $417,000 loan, that’s about a $1000 per year decrease in interest cost. Is this enough turn around the housing market? Only time will tell.
“Nevertheless, at online mortgage firm Quicken Loans, applications Tuesday were more than double what they had been in recent weeks, says Bob Walters,” the firm’s chief economist as told through Dina ElBoghadady and Renae Merle .
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About hankbailey
Member of the Athens Area Association of REALTORS®, Georgia Association of REALTORS®, and the National Association of REALTORS®. I grew up in Athens and graduated from UGA with a BBA from the Terry College. I serve as a Residential Real Estate Listing and Buyer Services through Prudential Georgia, one of the largest real estate companies in the State of Georgia. Working with first time home buyers, step-up buyers, and Relocations in Jackson, Barrow, Oconee, and Athens-Clarke Counties.
http://www.AdvancedPropertyMarketing.com (this is our listing methodology)
http://www.GetJobLossProtection.com (this is an overview of our job loss program)
• Adept at understanding mortgage financing issues, products, and terminology.
• Technical expertise in internet marketing.
• Excellence in establishing trust with clients.
Represents Prudential Georgia Property Management in the acquisition and marketing of properties for lease in the Greater Athens area.
Personal website; www.athensgahomesforsale.com
Member of GA MLS
Member of FMLS
Member Georgia Association of REALTORS®
Member of Athens Association of REALTORS®
Member of the National Association of REALTORS®
Member of the UGA Alumni Association
