Category Archives: Interest Rates

10% Jump

Posted on November 4, 2010 by Sheila Salvitti

According to the National Association of Realtors, “Existing home sales rose again in September.” NAR’s chief economist, Lawrence Yun, is attributing the 10% jump to “historically low mortgage interest rates and very favorable affordability conditions” on single family houses, townhouses, condos, … Continue reading →

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Bottom’s Up

Posted on October 19, 2010 by Sheila Salvitti

People often speculate whether the real estate market has hit bottom.  The problem with “the bottom” is that you can’t identify it until you’re already out of it. California-based Beacon Economics said last week: “While prices may fluctuate modestly over … Continue reading →

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Interest Rate Insanity

Posted on October 14, 2010 by Sheila Salvitti

On Tuesday, I told you interest rates fell last week to 4.27%.    Turns out, buyers can do even better than that on new construction.  The Pennsylvania Housing Finance Agency (PHFA) is offering first time homebuyers who are purchasing new construction in Montgomery County, … Continue reading →

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Nifty Fifties

Posted on October 12, 2010 by Sheila Salvitti

On Friday, interest rates fell even lower to 4.27%.     The Chicago Sun Times wrote, “The last time home loan rates were lower was during the 1950s, when most mortgages lasted 20 or 25 years.”     The 1950s!     Back when a stamp was … Continue reading →

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FHA…OOC

Posted on September 10, 2010 by Sheila Salvitti

Listen up buyers! The Federal Housing Administration (FHA) is giving you until Monday, October 4 to lock in a low monthly mortgage insurance premium (MIP), because after that day, MIP will increase by over 63%.  Yikes! What does this mean … Continue reading →

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