Real Estate Headlines - 5 - Worthy of Attention...
Home Prices Continue to Rise
rismedia.com reported the S&P/Case-Shiller Home Price Indices as released by S&P Dow Jones Indices.
For renters, buying a home pays off after three years on average
latimes.com reported a "provocative data point" cited by Zillow. On average, nationwide the home purchase pays off after three years. This is clearly thinking we used to see all time in days gone by. Ultra low interest rates and low homes prices are the two key factors.
Mortgage Rate Climb After Months of Record Lows
dsnews.com reported the announcement by Freddie Mac this past Thursday after more than three months of record-low drops. The GSE Primary Mortgage Market Survey showed the 30-year fixed-rate mortgage to average 3.55 percent. This may even make the buy versus rent comparison pay off sooner than the just reported 3 years by Zillow.
U.S. Mortgage Rates Increase for the First Time in 7 Weeks
bloomberg.com also cites the announcement by Freddie Mac this past Thursday and the GSE Primary Mortgage Market Survey showed the 30-year fixed-rate mortgage to average 3.55 percent. It goes on to cite BMO Capital senior economist Sal Guatieri stating "house prices have turned the corner..."