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Housing market hits “trifecta”
Housing market hits “trifecta”
Housing activity during July held few surprises for members of Northwest Multiple Listing Service, although some brokers wonder why more buyers aren’t taking advantage of historic low interest rates. Both pending sales and median prices on closed sales showed slight improvement from the previous month, according to the latest report from NWMLS. “It’s a housing trifecta,” declared Meribeth Hutchings, a director for Northwest Multiple Listing Service when asked to comment on activity.The combination of the lowest interest rates on record, plenty of inventory and low prices offer anunprecedented opportunity for buyers, Hutchings explained. The broker/owner of Windermere RealEstate/Lake Stevens Inc. said homes have never been this affordable in her 28 years in the business.
30 Year Fixed Mortgage as low as 4.69%
Average interest on a 30-year fixed mortgage fell to an all-time low of 4.69 percent this week, down from 4.75 percent a week ago, reports Freddie Mac.
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