Only Two Homes Left!
Do not wait any longer! These last two homes will sell fast! Contact Heather Sakers for more information at (252) 599- 6814.
Do not wait any longer! These last two homes will sell fast! Contact Heather Sakers for more information at (252) 599- 6814.
A sharp sell-off in the bond market is sending mortgage rates to the highest level in seven years.
The average contract rate on the 30-year fixed will likely end the day as high as 4.875 percent for the highest creditworthy borrowers and 5 percent for the average borrower, according to Mortgage News Daily.
Mortgage rates, which loosely follow the yield on the 10-year Treasury, started the year right around 4 percent but began rising almost immediately. They then leveled off in March and early April, only to begin rising yet again. Tuesday’s move follows positive economic data in retail sales, suggesting that newly imposed tariffs would not hit sales as hard as expected.
Mortgage rates have climbed to the highest level in close to four years, according to data released Thursday.
The 30-year fixed-rate mortgage averaged 4.38% in the week ending Feb. 15, up from 4.32%, mortgage buyer Freddie Mac said.
A year ago, the benchmark mortgage averaged 4.15%.
The 15-year fixed-rate mortgage averaged 3.84%, up from 3.77%, and the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.63%, up from 3.57%.
The backup in rates has occurred on concerns about rising inflation pressure, with the latest increase coming after a stronger-than-forecast gain in consumer prices.
“Inflation measures were broad-based, cementing expectations that the Federal Reserve will go forward with monetary tightening later this year,” said Len Kiefer, deputy chief economist.
Fellow mortgage buyer Fannie Mae said it’s upped its 30-year fixed rate mortgage forecast for the fourth quarter by 30 points to 4.4%.
“However, we don’t expect rates to play much of a role in total home sales, especially with anticipated stronger disposable household income growth. The ongoing inventory shortages should continue to constrain sales despite otherwise ripe home buying conditions,” said Doug Duncan, Fannie’s chief economist, in a statement.
UNIT 11 – ST. GEORGE
Our stunning St. George model, Unit 11, on the Pond front is now fully completed and move-in ready. This property is being offered with a Blinds Package and Smart TV Package valued at $4000 if under contract and closed by March 30th, 2018. Asking $308,850.
The Blinds Package consists of faux 2″ wood blinds as well as Curtains on all sliders, as seen in the home. The TV Package consists of 4 Smart TV installed (Living Room and each Bedroom),
which are on order and will be installed shortly. Call sales agent Heather Sakers at (252) 599-6814, or click here for additional information about the new home for sale in Kill Devil Hills, NC.
As of February, 2018
A huge sell-off in the bond market is about to make buying a home more expensive. Mortgage rates, which loosely follow the yield on the 10-year Treasury, have been rising for the past few weeks, but are seeing their biggest move higher Monday.
“Bottom line, rate sheets are going to be ugly this morning,” wrote Matthew Graham, chief operating officer of Mortgage News Daily. “Some lenders will be at 4.5 percent on their best-case-scenario 30-year fixed quotes.”
That is the highest rate since 2014.
Both residential and land sales were up double digits in units compared to 2016.
However, inventory continues to decline.
*As reported by the Outer Banks Association of Realtors for the period of 1/1/17 – 12/31/17 as of 1/8/18.
The Outer Banks will benefit from the same sunny warmup that will melt Richmond snow Thursday – before another round of sub-freezing temperatures overnight. But with temperatures remaining below freezing Thursday morning, schools were canceled and many businesses along the empty U.S. 158 corridor were closed.
Read full article below:
http://wtvr.com/2018/01/18/snobx-2018-pictures-of-outer-banks-blanketed-in-heavy-snow/