Good Morning Toledo!!!
My Broker at Key Realty recently sent out an email that I would like to share with you.
Freddie Mac released on October 23rd, 2015 it's updated Multi-Indicator Market Index (MiMi). It stated the U.S. Housing market is continuing to stabilize at a slow rate. Two additional areas were entering into the outer range of housing activity. These two areas were Scranton and Harrisburg, Pennsylvania.
“The national MiMi value stands at 81.2, indicating a housing market that is on it's outer range of housing activity, while showing an improvement of +0.27% from July to to August and a three-month improvement of 2.5%. On a year-over-year basis, the national MiMi has improved +6.16%. Since its all-time low in October 2010, the national MiMi has rebounded 37%, but remains significantly off from it's high of 121.7.”
News Facts about Ohio.
Ohio was one of 4 states with the most improving MiMi. The other states were New Jersey, Colorado, and Georgia.
Looking at the most improving metro areas month-over-month was Cleveland at +1.27%.
Quote by Freddie Mac Deputy Chief Economist Len Keifer:
“The nation's housing market continues to improve riding the waves of the best year in home sales since 2007. With the MiMi purchase applications indicator at its highest level in more than seven years we expect home sales to remain strong. Low mortgage rates are fueling the recovery across the country.”
Now is a great time to by a home with very low interest rates. When I tell people I bought my first house in 1979 at a 10 percent interest rate they look at me a bit funny. Also, in order to get a mortgage at 10% I needed 20% to put down on the house. Yikes!!!
In today's world of less than 4% mortgage rates and 3.5% to put down on the house of your dreams, now is a Great time to buy a house. If you want more information about home mortgages please email Brad Myrice at Hallmark Home Mortgage, You can also call him at 419-349-3306. You can also email Cecelia Jacobs at First Federal of Lakewood . You can also call her at 419-704-5687.
Need help in finding your next new home? Please contact me direct at Key Realty at 419-346-1458. Your can also visit my website at KeyFiveStarRealtyGroup.com Your Toledo Area Realtor. Specializing in Sylvania Ohio.
Have a Great day!
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