I’m excited to be joined today by Matthew Mieras of CMG Financial to talk a little bit about the lending industry in addition to our latest market update.
As far as mortgages go, the spring market started a bit early this year. Mortgage applications rose by over 30% in the first two weeks of January and interest rates are currently at 3-year lows. Some homeowners are refinancing their mortgages with rates as low as 3.25%.
We can’t predict where they’ll go in the future, but we know that they’ve never been as low as they are right now.
Home sellers and potential home sellers out there should know that there were 30% more pending sales this January than last. Also, days on market have dropped by 20% from last year at this time.
The market is doing really well as far as home values go. From last January to this January, prices are up 8%.
If you’re thinking about buying, selling, or refinancing, it’s a fantastic time to do so. If you have questions for Matt, you can get ahold of him at (843) 670-5512 or via email at MMieras@cmgfi.com.
If you have any other questions for us about the current market conditions or anything else related to real estate, feel free to reach out via phone or email. We look forward to hearing from you.