Wednesday, July 11, 2012

Weekly Rate and Real Estate Update, 7.11.12

The highs and lows...

Dan’s activity this week:
Ah, the heat!  Last week we closed on our personal home and the renovation is in full swing.  We can’t wait to move in and are anticipating the end of next week as “completed” enough to live in.

My buyer’s deals are active, submitting an offer this morning in fact.  My seller’s are a mixed bag, one appraisal yet to happen this week, one got confirmation that the appraisal was good and one sale that did not appraise at the contract price…boo!  So the closing for Monday is in jeopardy but next Friday’s close is on schedule as long as the buyer’s mortgage company performs.  Another closing set for late August (yes August) is on track as well.

One inspection response done, one in negotiations and one home had an inspection today!  As soon as we wrap up these inspections the appraisals won’t be far behind!

Oh yeah, and rates are still at historic lows, blah,blah, blah…someday this line will change but until then please enjoy all the refinancing and purchasing you can!

Rates for the week
From the IBJ... The average rate for 30-year mortgages fell from 3.89 percent to 3.87 percent for the week ended July 4, according to The rate for 15-year mortgages fell from 3.16 percent to 3.13 percent.

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