Mortgage Rates Hit All-Time Record Lows

For all of the skeptics out there who are in a holding pattern trying to decide if it is a good time to buy property, I found this article from RIS Media that provides concrete data supporting  this as fact. Mortgage rates are at record lows and many buyers are taking advantage. My Comey & Shepherd Real Estate Office reported an all-time record high number of showings 2 weeks ago.

Freddie Mac released the results of its Primary Mortgage Market Survey®  in which the 30-year fixed-rate mortgage averaged 4.78%. The 30-year fixed rate mortgage has not been lower in the life of Freddie Mac’s weekly survey,dating back to 1971 for the 30-year fixed rate mortgage.

According to  the National Association of Realtors, housing affordability reached an all-time high in February 2009 since the series’ inception in 1971. By region, sales surged by nearly a third in the Northeast and Midwest, but fell in the West. More good news for Cincinnati homebuyers and sellers looking to make a move!

For a free market analysis of what homes are selling for in your neighborhood or a neighborhood you are looking to move to. Please email or call me.