Tuesday, September 30, 2008
Tuesday, September 23, 2008
Mortgage Rates Drop and activity picks up...
Mortgage companies around DFW are reporting an uptick in consumers looking to take advantage of interest rates that have dipped just below 6%. If you are in the market to buy, the combination of many distress sales in the marketplace and interest rates this low provide a great opportunity. Please give us a call if we can help at (817) 635-1150 or search every home at www.tarrancountylistings.com.
Saturday, September 06, 2008
Tuesday, September 02, 2008
Mortgage Rates Have Dropped
Mortgage rates have dipped in the past few weeks to an average low of 6.21% for a 30-year fixed mortgage. The current average rate for a 15-year fixed mortgage is even lower at 5.80%, while the rate for a 5/1 adjustable rate mortgage is 5.69%. Compared to the middle of last month, when the rate for a 30-year fixed was around 6.41%, this lower rate means a savings of $31 each month, or $375 each year, in monthly payments on a $240,000 mortgage.Friday, August 29, 2008
Tuesday, July 29, 2008
DFW Housing Market Crystal Ball
David Fair with Hexter Fair Title Company came to our office last week and shared his opinions on the North Texas real estate market. Here are some of the highlights....
DFW home sales have slowed across all price ranges and geographic area. Why slower?
Comparison period (1st half of 2007) was all-time record.
Chaos in the mortgage market
Inflation-especially in oil and food creates uncertainty
Negativity (national real estate data) is scaring buyers
The Good News....
All 4 reasons are "temporary"
DFW economic fundamentals remain strong
Real Estate Sales Update....
Active inventory of homes for sale is down 10% versus the end of June 2007.
Existing home inventory in DFW is the 2nd lowest (next to Austin) of all the major metropolitan area in the United States.
The "over-correction" in lending underwriting guidelines should start to correct in a few months.
New home starts likely to remain low until late 2008. Rebound date dependent on each neighborhood's supply & demand.
Positive impact from the Foreclosure Rescue Plan just passed by Congress.
Texas is different from any other state-Our job growth will continue upward-thanks mostly to our most unique asset-The Barnett Shale.
The negative impact of the current mortgage uncertainty, oil prices, and the election rhetoric should be reduced in the next few months.
DFW home sales have slowed across all price ranges and geographic area. Why slower?
Comparison period (1st half of 2007) was all-time record.
Chaos in the mortgage market
Inflation-especially in oil and food creates uncertainty
Negativity (national real estate data) is scaring buyers
The Good News....
All 4 reasons are "temporary"
DFW economic fundamentals remain strong
Real Estate Sales Update....
Active inventory of homes for sale is down 10% versus the end of June 2007.
Existing home inventory in DFW is the 2nd lowest (next to Austin) of all the major metropolitan area in the United States.
The "over-correction" in lending underwriting guidelines should start to correct in a few months.
New home starts likely to remain low until late 2008. Rebound date dependent on each neighborhood's supply & demand.
Positive impact from the Foreclosure Rescue Plan just passed by Congress.
Texas is different from any other state-Our job growth will continue upward-thanks mostly to our most unique asset-The Barnett Shale.
The negative impact of the current mortgage uncertainty, oil prices, and the election rhetoric should be reduced in the next few months.
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