Wednesday, May 30, 2012

Weekly Rate and Real Estate Update, 5.30.12

Who said rates wouldn’t go lower…again?

Dan’s Activity this week:

Now that we’ve passed another slow period, Memorial Day, let the real season begin!
I’m prepping for three closings in the next two weeks.  Of course nothing is easy…right?  There were lender issues on one deal that caused a delay; sometimes I think they don’t even start working on a mortgage until a week before closing!  The appraiser struck again on another deal that was going along nicely.  You wonder if they want the market to recover.  If not unreasonable, isn’t the best statement of value what someone is willing to pay? 

All that comes with the territory but I had to vent a little.  On the flip side, I had a new listing go live yesterday and have been receiving REALLY good leads just about every day for the last two weeks.  I’ve also satisfied my toughest client, my wife, with the purchase of our own home.  It’s a project of course; we couldn’t have it any other way. After we get past the inspection, we look to close in about a month and we are excited.  As a REALTOR®, it’s always good to put yourselves in your client’s shoes and experience the raw emotional rollercoaster of the home selling/buying experience!

Tough commute!
Rates for the Week

From the IBJ... The average rate for 30-year mortgages was unchanged at 3.97 percent for the week ended May 23, according to The rate for 15-year mortgages fell from 3.20 percent to 3.19 percent.

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