Housing affordability continues to be at record highs this year with the added stimulus of the first time buyer credit. Home buyers continue to benefit from low home prices as well as unprecedented mortgage rates. So far this year, payment percentages have been the lowest on record dating back to 1970. A typical mortgage payment on a median priced home historically has consumed 25% of a middle income family's monthly earnings; it's now taking up only 16%.
For More Info Please Visit: www.augustasgahomesales.com
Friday, October 16, 2009
NAR - Latest Data Release September 2009
Total housing inventory nationwide fell 10.8% to 3.62 million existing homes available for sale, representing an 8.5-month supply at the current sales pace. This is down 8.6% from July's 9.3-month supply. Compared to ayear ago, there are now 16.4% fewer homes on the market.
Rates for a 30 year fixed loan ticked down to 4.94% in September. Rates are now at well below average levels for people looking to buy a home or refinance. However, such a low rate will not last forever.
For more on Augusta, GA Homes for sale please visit my website: www.augustasgahomesales.com
Rates for a 30 year fixed loan ticked down to 4.94% in September. Rates are now at well below average levels for people looking to buy a home or refinance. However, such a low rate will not last forever.
For more on Augusta, GA Homes for sale please visit my website: www.augustasgahomesales.com
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