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 the 4's (30 year fixed, not a teaser rate or adjustable but a nice safe fixed rate!). Extremely low rates should help to stimulate some activity.
If you've considered refinancing before but thought that the rates available weren't low enough or that your house might not have enough equity, now might be the time to call my office and have a no obligation conversation about what type of saving you might see with a refinance.
Jason
401-580-7612
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