The average US rate on a fixed mortgages decreased this past week to the lowest levels since long-term mortgages began in the 1950s. This decrease in the average fixed interest rate will give prospective buyers more incentive to purchase property in the housing market. According to mortgage buyer Freddie Mac, "the average rate on the 30-year loan fell to 3.56 percent... That’s … Keep reading... about 30-Year Mortgage Rates Continue to Drop

The positive trend that has been experienced in Florida for much of 2012 continued in July. According to data released by Florida Realtors, "pending sales, closed sales and median prices rose, while the inventory of homes and condos for sale dropped" last month. The housing market, which has been rebounding significantly in Florida over the past year, continues to show signs … Keep reading... about Florida Housing Market Continues on Positive Track

The number of pending home sales bounced back in May, according to the National Association of Realtors (NAR). The levels reached in May were significantly higher than the prior year and the highest level in the past two years. According to Florida Realtors, NAR's Pending Sale Home Sales Index, "a forward-looking indicator based on contract signings, rose 5.9 percent to 101.1 … Keep reading... about Pending Sales Reach Two-Year High

CoreLogic released its monthly report last week, revealing that the inventory of unsold homes is at the lowest point in five years. The reason? Negative equity, which is proving to be a driving force in the real estate market. Homeowners who owe more on their mortgage than the current value of the home are deciding to hold onto property and not sell now. The result of this has … Keep reading... about Unsold Homes Inventory at Lowest Point in 5 Years

Tracking "lowball offers" is something that can really demonstrate how the real estate market is performing. In a market where prices hit all time lows and buyers were finding "steals," lowball offers had become fairly common. However, as the market has begun to shift in the right direction, the number of these lowball offers seems to be dwindling. To better understand, we must … Keep reading... about Why Lowball Offers Will No Longer Work