market update rhode island: April Existing Home Sales Rise More Than Expected. - 05/24/10 03:52 AM
April Existing Home Sales Rise More Than Expected.
No big surprise here that the there was an increase in home sales during the month of April. The expiring tax credit definitely motivated some buyers.
The increase was slightly higher than expected and that's a good thing.
This increase in activity also helped give a slight bump to home values in many parts of the country. Not too bad.
Over the next few months a slight dip in activity has been forecast because of the expiration of the tax credit. What wasn't expected were rates to land square in the middle of … (5 comments)

market update rhode island: Market Update: 30 year fixed rates below 5%. - 02/18/10 05:54 AM
Market Update.: 30 year fixed rates below 5%.
Multiple news agencies are reporting today that the average rate on a 30 year fixed mortgage has dropped below 5%. The average rate based off of last weeks locks/closings is 4.93%.
On the application side of things, applications actually dipped by 2.1% last week. I think this may have been caused by news of increasing rates, widely reported on February 4th, and this news may have cooled some interest in homeowners replacing an existing mortgage.
With rates seeing some temporary downward pressure, application numbers this week and next week may show an increase.
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