This Month In Real Estate: January 2015
Here are just a few of the national numbers we are tracking for you right now.
According to the National Association of Realtors, the number of projected home sales dipped to 4.93 million.
The national median home price for existing homes decreased to $205,300. That’s down 1.1% from last month and up 5% from the same time last year.
Finally, according to Freddie Mac and local lenders, the average for a 30 year fixed mortgage rate is down from last month to about 3.8%
To find out how these numbers affect home prices in our area, contact Eric Lowry, CEO and Listing Specialist of The Lowry Team.
The Lowry Team – Keller Williams Realty is an award winning, full service real estate firm specializing in West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team’s culture is that of a fun, high energy group who prides themselves on providing personal, professional real estate service.
The Lowry Team is “Different By Design”… taking a team approach to home buying and selling. The Lowry Team consists of members that are focused on areas of specialization including Listing Specialists, Buyer Specialists, Transaction/Listing Coordinator, Inside Sales Associate and a Marketing Director.
Don’t Hire an Agent…Hire a Team. The Lowry Team.
Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.
Other articles you may be interested in:
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Where Will 30 Year Mortgage Rates Be In 12 Months?
Fannie Mae and Freddie Mac Offering 3% Down Programs
Do I Need A Bigger Down Payment Before I Purchase A Home?
Hire A Real Estate Agent To Get The Home You Want
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West Chester Ohio Is One Of The Best Places To Live
Southwest Ohio Schools In Top Ten On State Report Card
Factors To Consider When Buying A Home
Find The Current Market Value of Your Home
today, the monthly payment would be $1208. If you continue to save your money for a larger down payment, the same house will cost $260,000 with a 4.8% interest rate in September of 2015. Now your monthly payment will be $1364.13. That is a difference of $156.13 a month, $1873.56 a year or $56,207 over the course of a 30 year fixed rate mortgage.
Q. Where will 30 year mortgage rates be in 12 months?
interest rates than anyone in the last 4 decades. In the 70’s interest rates averaged 8.86%, in the 80’s they were 12.7%, in the 90’s they averaged 8.12% and in the 2000’s they were 6.29%.