So here we are, two weeks into May and the weather has cleared and we have a great looking weekend on tap. If you are in the Bethany Beach area tomorrow, come on down to the Bethany Beach Breast Cancer Fun Run/Walk. You can sign-up and check-in begins at 7AM in downtown. I’ll see you there.
Keeping Current Matters is a great service many of us follow in the real estate business. Here are links to the May issues of KCM news that can help you with both real estate buyers and sellers.
Mortgage rates continue to drop as measured by the weekly Freddie Mac average 30 year fixed rate purchase mortgage. Yesterday’s average rate was announced at 3.83% with 0.7 discount points for the 30 year and 3.05% with 0.7 discount points for the 15 year. These are purchase mortgages of $417,000 or less with 20% down. Click on the image below to download a chart that you can use with clients to show where current rates are compared to historical levels. It’s a compelling graphic.
Mortgage bond prices finished the week slightly higher helping rates improve. The market remained relatively stable. Political changes in France put into question the willingness of euro zone countries to continue austerity measures. Greece failed to put a coalition government in place and Spain stepped in to rescue one of their largest banks. This increased concerns that Greece will eventually leave the Euro. Flight to quality buying of US debt instruments continued as a result. The 30Y bond auction showed decent foreign demand. Mortgage interest rates finished the week better by about 1/8 of a discount point.
Here’s the link to my rate sheet online if you are a real estate professional: <a href="http://www.box.com/s/hypfnpup1ruq5069qkn6" title="http://www.box.net/shared/bxjyydagau
http://www.box.net/shared/uks538ajcm“>Baxter Rate Sheet
Have a great weekend and never hesitate to contact me if you need something – hit the cell, send an email, pop a text, or contact me on Twitter or Facebook. And, if you need to get a buyer pre-approved? Just send them to my secure online application – Baxter Online Mortgage Application – Click on “Start Your Application”
And here’s an easy way to introduce me to clients when you make a referral. Send them to my About.Me Profile: Click Here