Good Monday Morning!

We are in mid Spring and the home buying/selling season is upon us in the Eugene and Springfield areas.  The good news is that there are plenty of new home listings hitting the market right now.  This is welcome news after months of extremely low inventories of homes for buyers to look at.  Along with more homes to look at, home buyers are also enjoying the fact that mortgage interest rates continue to decline.  We may have a window here that is very favorable for home buyers and this will also become an opportunity for home sellers. Right now, just might be the best time this year to purchase or sell a home.  

The following is an article from "Forbes" that gives you information on what has been taking place with home mortgages.  I am not sure as to how long these favorable rates are going to last, but for right now, buyers are able to take advantage of some really good rates.

Mortgage rates are showing signs of moderating this month, following increases in April. Borrowers are discovering much lower rates compared to a year ago.

“A combination of low mortgage rates, a strong job market, and modest wage growth should spur home buyer interest and also serve as an incentive for homeowners looking to refinance this spring,” says Sam Khater, Freddie Mac’s chief economist.

Freddie Mac reports the following national averages with mortgage rates for the week ending May 9:

  • 30-year fixed-rate mortgages: averaged 4.10%, with an average 0.5 point, falling from last week’s 4.14% average. Last year at this time, 30-year rates averaged 4.55%.
  • 15-year fixed-rate mortgages: averaged 3.57%, with an average 0.4 point, falling from last week’s 3.60% average. A year ago, 15-year rates averaged 4.01%.

5-year hybrid adjustable-rate mortgages: averaged 3.63%, with an average 0.4 point, falling from last week’s 3.68% average. A year ago, 5-year ARMs averaged 3.77%.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

2945 Ava Street  

Price: $325,000    Beds: 3    Baths: 2.0    Sq Ft: 1570

New Construction. This home is sure to impress. Open Living, Dining, & Kitchen. Great for entertaining. Master suite with walk-in closet and master bath. Two additional bedrooms are on opposite side of house. This home includes a Laundry room and a...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!