Home prices are still on the increase and that is not likely to change during the summer months. The Median Sales Price increased 16.1 percent to $342,500 for the month.
Mortgage Rates Drop Below Three Percent
May 27, 2021
Mortgage rates are down below three percent, continuing to offer many homeowners the potential to refinance and increase their monthly cash flow. In fact, homeowners who refinanced their 30-year fixed-rate mortgage in 2020 saved more than $2,800 dollars annually. Substantial opportunity continues to exist today, as nearly $2 trillion in conforming mortgages have the ability to refinance and reduce their interest rate by at least half a percentage point.
Information provided by Freddie Mac.
April Monthly Skinny Video
April was another strong month for home sales. The busy spring market continues to see many multiple offer situations driving sales prices above asking price.
March Monthly Skinny Video
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