ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL- 06/06/2013

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Real Estate Agent with Mutual of Omaha

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL - 06/06/2013

Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL06/06/2013 list has been posted.

ACTIVE REAL ESTATE FORECLOSURES AND REAL ESTATE HOMES FOR SALE MOBILE AL

Say goodbye to ultra-low mortgage rates. 

In the past month, rates have been on the rise and they are expected to continue to climb. Last week, the average rate on a 30-year fixed-rate mortgage climbed to 3.81%, up from 3.3% in early May, according to mortgage giant Freddie Mac. Meanwhile, those seeking a 15-year loan received an average rate of 2.98%, up from 2.56% a month earlier -- a record low. 

ACTIVE REAL ESTATE FORECLOSURES AND REAL ESTATE HOMES FOR SALE MOBILE AL

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

Those who didn't take advantage of record-low rates have missed the boat -- at least for now. Here are three reasons why.

ACTIVE REAL ESTATE FORECLOSURES AND REAL ESTATE HOMES FOR SALE MOBILE AL

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

The Fed is going to stop bolstering the housing market. The Fed has kept rates at rock-bottom levels by buying up to $85 billion a month of Treasury bonds and mortgage-backed securities. That has enabled lenders to sell mortgage loans at low interest rates and recoup their money immediately -- plus profits.

ACTIVE REAL ESTATE FORECLOSURES AND REAL ESTATE HOMES FOR SALE MOBILE AL

If the Fed stops purchasing the securities, private investors will have to pick up the slack. For investors to do that, the loans will have offer a better payoff. And that would mean raising rates for borrowers, said Duncan. 

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

The economy is no longer reeling. During the recession, the Fed lowered its short-term interest rate to near zero in order to stimulate the economy. But now conditions have improved considerably since the economy emerged from recession four years ago. As the economic revival gains traction, it is creating a tailwind for interest rate increases, according to Gumbinger. 

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

Low rates happen when the economy is in distress. But now, the market believes the economy is getting stronger, said Wendy Cutrefelli, a vice president in the Mortgage Banking Division of Bank of the West.

ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN MOBILE AL

3.3% rates are unprecedented. "The 30-year [mortgage rate] hit a 37-year low in 2003 at 5.23%," said Gumbinger. "That was the previous low-watermark prior to this financial crisis and it's likely we will move closer to that mark as we grind forward."

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ACTIVE REAL ESTATE FORECLOSURES AND REAL ESTATE HOMES FOR SALE MOBILE AL

These are Single Family Homes 'Active' on the Mobile AL MLS. These homes are ripe for the picking. DO NOT LET THEM PASS YOU BY...ACT NOW....BEFORE IT IS TOO LATE!!!

I hope you have an awesome day, packed with smiles while searching for your active Mobile AL Real Estate Dream.

 
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