Cold Front Moves In For Sacramento Real Estate Market …
November 13th, 2009 Categories: First Time Buyers, Sacramento Real Estate, Sacramento Real Estate Trends
Cold Sacramento Real Estate Market
If Sacramento area real estate buyer trends have any resemblance to the national trends, things may be heading into a long, slow spell…
Even with mortgage interest rates are at their lowest levels in five weeks, a seasonally adjusted index of home purchase applications was at its lowest level since 2000, the Mortgage Bankers Assn. said in a report yesterday.
The closely watched Freddie Mac report on rates also came out Thursday, showing 30-year fixed home loans at an average of 4.91% this week for borrowers paying 0.7% in up-front points and fees to lenders.
So even though mortgage rates are so low, home sale mortgage applications are declining —
So even with the government’s $8,000 tax credit for first-time home buyers has been extended, and a $6,500 credit for many move up buyers, the numbers are way down…
