WHAT YOU NEED TO KNOW IF YOU ARE BUYING OR SELLING A HOME THIS SPRING
Refinancing your home: consider only if you can save 2 percentage points on what you are currently paying. Consider closing costs and points you will have to pay. Closing costs can be as high as 3% of the loan amount, on fixed mortgages.
The longer you stay in your house, the quicker you are to break even if you decide to refinance your mortgage.
ACCORDING TO THE LATEST STATS PROVIDED BY THE MORTGAGE BANKERS ASSOCIATION:
Overall, the real estate market is stabilizing. This past month, existing home sales showed the biggest percentage increase since July 2003.
- Consumer spending is on the rise, though still slow
- Condo sales in February jumped an impressive 11%
- Home prices in the West this past month dropped 30%, the highest drop in the country
- New home sales rose almost 5%. The largest number of existing home sales was in the Northeast, a jump of about 15%
- Median price down 18% in the country from last February.
Related posts:
- Buying or Selling a Home? The Real Estate Market: April's Latest Stats THE LATEST REAL ESTATE FIGURES WHAT YOU NEED TO KNOW...
- Avoid Mortgage Fraud As the mortgage market and economy continues to be weak,...
- News on the Real Estate Market; Buy or Sell? I have an exciting lineup of guests coming on Thursday’s...
- How to Shop For a Mortgage If you are shopping for a mortgage now, you...
- Holiday Shopping: What You Need to Know Before Heading to the Stores Holiday season shopping is underway, and with all the...
Related posts brought to you by Yet Another Related Posts Plugin.