Cold Front Moves In For Sacramento Real Estate Market …

 

Sacramento Cold Real Estate Market

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…

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