Rates, Not Home Prices, Worst Enemy In Affordability. With all the talk of softening markets, many buyers have moved to the sidelines hoping to wait out high prices, believing that lower prices will help them along the path to homeownership or to move up into the house they really want. Instead of prices, buyers should really keep their eyes on interest rates -- the most powerful component of the home-buying process. Click here to read more.
2006 Outlook Continues To Be For A Slower, But Still Busy, Housing Market. Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 6.32 percent, with an average 0.6 point, for the week ending December 8, 2005, up from last week’s average of 6.26 percent. Last year at this time, the 30-year FRM averaged 5.71 percent. Click here to read more.
This story looks vaguely familiar, I don't know if I've already posted a similar one before, and a different news source is repeating it just now, or what the deal is. But I guess it never hurts to repost.
Market flooded with homes for sale. Higher-end homes take the biggest price hit. The number of homes for sale in San Joaquin County has more than doubled in the past six months, causing the prices of some higher-end homes to come down, real estate experts said. But the cost of the homes for the first-time buyer has remained stable as the median price for homes has increased between $10,000 and $30,000 in most cities during the same period. Central Valley Association of Realtors, which represents 16 cities in San Joaquin and Stanislaus counties and is headquartered in Lathrop, released a report Friday showing the number of homes listed for sale in San Joaquin County more than doubled since June. Click here to read more.
~Tina Jan~
Coldwell Banker Kivett-Teeters
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