Wednesday, May 28, 2008
WASHINGTON - Rates on 30 year mortgages plunged below 6% this week, falling to their lowest level in five weeks. A mortgage company reported that 30 year fixed-rate mortgages averaged 5.98% this week; that was down from 6.01% last week. It was the lowest level for 30 year mortgages since they averaged 5.88% the week of April 17. After that, 30 year rates jumped above 6% for four straight weeks.
Rates on 15 year fixed-rate mortgages also fell, dropping down from 5.60% to 5.55% last week. However, rates on one-year and five-year adjustable rate mortgages rose for the week. The five-year adjustable-rate mortgage edged up to 5.61% from 5.57% last week. The rate on one-year ARMs rose to 5.24%, up from 5.18% last week.
The nationwide average fee for 30 year fixed-rate mortgages was about 0.5 point. The other mortgage categories carried a 0.6 point average fee. A year ago, rates on 30 year mortgages stood at 6.37%, 15 year mortgage rates averaged 6.06 percent, five-year adjustable-rate mortgages were at 6.02% and one year adjustable-rate mortgages were at 5.64%.
Rates on 15 year fixed-rate mortgages also fell, dropping down from 5.60% to 5.55% last week. However, rates on one-year and five-year adjustable rate mortgages rose for the week. The five-year adjustable-rate mortgage edged up to 5.61% from 5.57% last week. The rate on one-year ARMs rose to 5.24%, up from 5.18% last week.
The nationwide average fee for 30 year fixed-rate mortgages was about 0.5 point. The other mortgage categories carried a 0.6 point average fee. A year ago, rates on 30 year mortgages stood at 6.37%, 15 year mortgage rates averaged 6.06 percent, five-year adjustable-rate mortgages were at 6.02% and one year adjustable-rate mortgages were at 5.64%.
posted by We buy houses, Stop foreclosure
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Thursday, May 15, 2008
NEW YORK - Manhattan apartments hit fresh record highs in the first quarter of 2008. According to city's top real estate agencies, strong sales in the city's booming luxury segments have been the market's main driver, but that overall sales are slow. Demand is high and supplies are tight for multi-million dollar luxury apartments in Manhattan.
The average price of a New York City apartment ranges between $1.63 million to $1.72 million in the first quarter of 2008, according to separate reports, there is an increase of anywhere between 19% and 47% over average apartment prices for the first quarter of 2007. If two of the most elite addresses with units on the market are excluded - 15 Central Park West and the Plaza, the average prices came down to $1.42 million.
The average price of a New York City apartment ranges between $1.63 million to $1.72 million in the first quarter of 2008, according to separate reports, there is an increase of anywhere between 19% and 47% over average apartment prices for the first quarter of 2007. If two of the most elite addresses with units on the market are excluded - 15 Central Park West and the Plaza, the average prices came down to $1.42 million.
posted by We buy houses, Stop foreclosure
@ 3:22 AM
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