Real estate blog entries tagged with home affordability by Bob Willis, Whittier Realtor® Whittier Real Estate - Whittier Homes (Prudential California Realty, Whittier California)

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Home : Blogs : Bob Willis, Whittier Realtor® Whittier Real Estate - Whittier Homes : Whittier CA Real Estate - Whittier Homes and Community News : Tag "home affordability"

home affordability: How Things Have Changed in the Past 3 and a Half Years - 02/07/12 09:00 PM

I just came across an old spreadsheet that I had created on October 7, 2008 that compared interest rates and payments for a typical home in Whittier.
The average interest rate at the time was 6.5%.
The average Whittier home price was $470,000.
FHA loans allowed borrowers to have a down payment of only 3% of the purchase price.
Today, the nationwide interest rate for a home loan is 3.88%, according to bankrate.com.
Today, the average Whittier home price is $295,000 (based upon last 3 months of sales).
Today, FHA loans allow borrowers to have a down payment as low as … (5 comments)

home affordability: Interest Rates are Up Again - Will It Ever Stop? - 12/16/10 09:41 PM

In my post a few days ago, I reported that Freddie Mac had published the previous Friday interest rate at 4.61%.
Today, interest rates rose again, to a nationwide average of 4.83%.
Rates are continuing to rise, which could mean that many, many buyers who were preapproved to buy a home in November may not be able to afford to buy a home in January.

… (4 comments)

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Bob Willis, Whittier Realtor® Whittier Real Estate - Whittier Homes

Whittier, CA

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Prudential California Realty, Whittier California

Address: 16128 E. Whittier Blvd., Whittier, CA, 90603

Cell Phone: (562) 639-9400

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Bob Willis, of Prudential California Realty in Whittier, is a real estate agent who was born in, works in and markets real estate in Whittier, California, and surrounding communities, including La Habra, La Habra Heights, La Mirada, Santa Fe Springs, Norwalk and Hacienda Heights.

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