I just read that the US rate on a 30-year mortgage increased this week to its highest level in seven months. It rose to 3.63% from 3.52% last week. No need to panic it’s still near the historic low.
The low mortgage rate has been instrumental in the recovery of the Real estate industry. NH year over year housing sales are up over 10%. Massachusetts single-family home sales have been on the increase year-over-year for twenty-two months running. While sales are increasing, we are still well off where the market was in 2009. Mass is seeing small increases in median sale prices and NH is slightly down.
This means it may be a great time to sell or buy. Rates are low and inventory is low.
1. Educated buyers need to buy now before the rates go much higher (it will be very gradual).
2. With limited houses currently listed, houses should garner a good offer from buyers that have been watching the market.
Perhaps it’s the perfect storm.
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Sandy LeRette – Realtor® ABR – Better Homes & Garden Real Estate / The Masiello Group – 436 Amherst Street, Nashua, NH 03063 cell: (603) 661-7301 email: slerette@masiello.com
Bob LeRette – Div. Sales Manager/ Real Estate – Boston.com & The Boston Globe, 617-929-2104 email: robert.lerette@boston.com & Realtor® - Better Homes & Garden Real Estate / The Masiello Group – 436 Amherst Street, Nashua, NH 03063
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