Blog
March 21, 2019
by Shayla Concannon

The Spring Housing Market Has Sprung

Now that the daffodils have bloomed and the days are getting longer the housing market is warming up as well. The spring housing market has sprung in Cincinnati along with low-interest rates on mortgages. Good timing for a robust spring housing market! For detailed information on KHH Listings: KHH Realtors

Interest Rates Hit New 12 Month Low!

Source: Keeping Current Matters

According to Freddie Mac’s Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at their lowest for 2019. Rates like these haven’t been seen since February 2018!

Last week’s survey results reported an interest rate of 4.35%. This is a welcome change from the near 5% rates seen in mid-November. At 4.32%, the second week of February 2018 was the last time rates were this low. This can be seen in the chart below.

Freddie Mac’s Chief Economist, Sam Khater, had this to say:

“Mortgage rates fell for the third consecutive week, continuing the general downward trend that began late last year.

Wages are growing on par with home prices for the first time in years, and with more inventory available, spring home sales should help the market begin to recover from the malaise of the last few months.”

Bottom Line
If you plan on buying a home this spring, meet with a local real estate professional who can help prepare you for today’s market before rates increase! 

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