Nationally, housing starts came in lower than expected and banks are maintaining the current pace at which they put foreclosures on the market.  Both of these have the effect of keeping inventories in line and home prices stable.
 
The Consumer Price Index came in at an annual rate of 3.6% and , at its current pace, the Fed will run out of money to buy mortgages next March.  Both of these have the effect of pushing rates up.
 
What does this all mean?  Housing prices will not go down and rates will go up, by the end of March, 2010.  Folks, it's not rocket science. 
 
Yes unemployment is high, but it's a lagging indicator.  It will continue to go up even as the economy improves, and won't come back down significantly until 2011.  But if buyers pay attention to the doom and gloom, they will miss out on the MOST affordable housing they will see in their LIFETIME.
 
This week, rates ranged from 4.75 - 5.0% depending on program, credit and points. 

The above was provided by..........
LuAnn Davis
Sr. Loan Officer
WR Starkey Mortgage
Greensboro, NC  27401
Cell: 336.253.7220
eMail: ldavis@wrstarkey.com
Website: www.davisteamlending.com

 

Angela Lawrence - Broker/Owner/REALTOR
North Carolina Homes Realty
Website: Greensboro Real Estate - Winston Salem Real Estate - High Point Real Estate
Office: 336-293-7022

Fax: 866-233-4314

Email: nchomes2@gmail.com
SELLERS - Low Commission Options - Full Service and $399 MLS Flat Fee Listing Plan for FSBO sellers.
Serving the Piedmont Triad Area since 2001!

 

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Angela Lawrence - Realtor/Owner - Greensboro - Winston Salem -High Point

Winston-Salem, NC

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North Carolina Homes Realty

Office Phone: (336) 293-7022

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Low Commission Options - $399 MLS Flat Fee Listing Plan for FSBO sellers and 3.0% - 3.9% Full Service Plan. General real estate, regional news and events about the Piedmont Triad North Carolina which includes Greensboro, Winston Salem, High Point, Kernersville, High Rock Lake, Oak Ridge, Summerfield, Clemmons, Advance, King, Jamestown, Mocksville, Asheboro, Lexington, Archdale, Trinity and all surrounding towns.


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