Mortgage interest rates have fallen back to 2013 levels this week. Fewer homes are available for sale leading to a slight increase in prices. With mortgage rates still low buying activity has been increasing. Mortgage applications for Federal Housing Administration loans spiked last week in the midst of lower FHA mortgage insurance premiums, according to the Mortgage Bankers Association. Both purchase and refinance activity are up, signaling higher demand for housing.
With rates low and prices still good, now is an excellent time to look at purchasing a home. Current homeowners should take a look at their equity gains for the past view years and consider trading up for a better home.
Larry Porter, Associate Broker, CRS, GRI, e-Pro, Military Relocation Professional, USN Retired
Lori Porter, ABR, GRI, MRP, HRRA Circle of Excellence Gold Award, HRRA Longevity Award
Office 757-479-3424 Cellular 757-291-3424
The Real Estate Group, LLC
1112-F Eden Way N
Chesapeake, VA 23320