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Interest rates have fallen again, the sun came out and so did the buyer's to check out those great opportunities that have been sitting on the market for a while. Inventory is starting to shrink and well-priced homes are moving!
This beautiful listing was priced right and sold in just 6 days!
Interest rates fell last week by nearly a quarter of a point on 30-year fixed-rate money -- down to 5.74 percent from 5.98 percent, according to the Mortgage Bankers Association of America.
New loan applications from purchasers were up by almost 11 percent for conventional conforming loans -- those are the types funded by Fannie Mae and Freddie Mac -- but up by an amazing 21.1 percent for government-backed mortgages, primarily FHA.
I can hear something stirring out there!
It certainly looks like it's going to be an active Spring Market.
Now to represent the entire market...everything is not rosy.
People are worried. They're spending less, and still waiting on the sidelines until they're convinced the market won't go any lower. You don't know it's hit bottom until it starts to rise so....Don't wait. If you can afford the mortgage on that beautiful new home you've been watching...go for it. Just make sure you have a savy "buyer's broker" to help guide you with the pricing and terms. (Hint...I can do that!)

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