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Housing Market and Mortgage Rates Stabilize
A lot of folks have been inquiring on where home prices and mortgage rates are heading for the future and based on the information out there let me share what I have found. On August 27, 2013, The S&P Down Jones Indices shared in their latest report of where home prices are heading. (us.spindices.com) for more information. The data compiled on the month end of June 2013, are showing most real estate losses since 2006-2008 have bounced back and home prices are selling close to the marks before the real estate crash in 2006/2007. Its now showing prices to stabilize and prices to slow down since we have had a up tick in prices from 2008 through June of 2013. Phoenix had the 2nd largest rebound from its lowest in September 2011 up today by 37.1%. But the indicators are showing prices leveling off, which a very good sign of healthy real estate recovery. So with prices back to highs in most areas from 2006 and 2007, we will see prices level off. But this now allows folks who do want to sell and move onto another property to finally get from under the property.
As for interest rates, we saw ... more
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