The Real-Estate Blog Of Mary Murray
Mortgage rates in the United States fell marginally last week, a sign that the housing market may be cooling down. According to Freddie Mac, the average 30-year fixed rate loan dropped 0.07% last week, averaging 4.50% while the average 15-year fixed rate mortgage fell 0.05%, averaging 3.54%. Mortgage rates were expected to decrease after hitting record highs in August. More here
According to many economists, the U.S. housing market has rebounded, with an impressive amount of progress shown over the past year. New statistics show that the market is beginning to slow down as prices continue to rise and interest rates increase, although rates have remained steady over the last few weeks. The consensus of economists has estimated that the sale pace in August will fall to a 5.24 million seasonally adjusted rate, a trend expected to continue throughout the remainder of the year. More here
Foreclosures dropped in the U.S. according to a report released by CoreLogic. As further proof the housing market continues to make significant strides in recovery, foreclosures fell by 65,000 in July. The number of completed foreclosures averaged around 49,000, down 4,000 from June 2013. As the year comes to an end, home prices and sales are continuing to increase while foreclosures are slowing. More here
