Wednesday, February 1, 2012

Weekly Rate and Real Estate Update, 2.1.12

15yr and 30yr rates tick up

Welcome to February.  I don’t know where you live, but it sure feels like Spring!  While I’m sure we’ll get our fair share of Winter, the unusually warm weather makes it feel like the selling season has begun!

Rates for the week:

From the IBJ: The average rate for 30-year mortgages rose from 4.18 percent to 4.25 percent for the week ended Jan. 25, according to The rate for 15-year mortgages rose from 3.39 percent to 3.45 percent.

Dan's Activity this week:

FYI…short sales can be frustrating.  Two clients have offers in on properties that are short sales and the process can be challenging.  It’s not only that it moves slowly, it’s that a lot of the time you just don’t get any information as to what’s going on.  An update that there is no update is still an update!  While good and great deals on short sales are possible, be prepared for the long haul.

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