Wednesday, May 28, 2008
Rates on 30 year mortgages fell below 6% this week, falling to their lowest level in five weeks. According to a mortgage company, 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 5.89% 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 dropped, falling to 5.55% down from 5.60% last week. But the 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% and the rate on one-year ARMs went up to 5.24% 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 was about 6.37%; 15 year mortgage rates averaged 6.06% 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 dropped, falling to 5.55% down from 5.60% last week. But the 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% and the rate on one-year ARMs went up to 5.24% 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 was about 6.37%; 15 year mortgage rates averaged 6.06% five-year adjustable-rate mortgages were at 6.02% and one year adjustable rate mortgages were at 5.64%.
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posted by Real Estate Investing @ 3:27 AM
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Thursday, May 15, 2008
NEW YORK - Manhattan apartments hit new record highs in the first quarter of 2008. According to NY's top real estate agencies, strong sales in the city's flourishing luxury segment have been the market's main driver, but that overall sales are slow. Demands are high and supplies are tight for multi-million dollar luxury apartments in Manhattan.
The average cost of a New York City apartment will range between $1.63 million to $1.72 million during the first quarter of 2008, based on separate reports there is an increase of anywhere between 19 percent and 47 percent over average apartment prices for the first quarter of 2007. The two of the most elite addresses with units on the market are excluded - 15 West of Central Park and the Plaza, where the average prices came down to $1.42 million.
The average cost of a New York City apartment will range between $1.63 million to $1.72 million during the first quarter of 2008, based on separate reports there is an increase of anywhere between 19 percent and 47 percent over average apartment prices for the first quarter of 2007. The two of the most elite addresses with units on the market are excluded - 15 West of Central Park and the Plaza, where the average prices came down to $1.42 million.
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posted by Real Estate Investing @ 3:38 AM
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