7th July 2013

Home Prices Up – Mortgage Rates Up

Trend upHome prices in East Cobb and North Fulton have increased month over month for the last four months in a row! Data through April 2013 presented by S&P   Dow Jones Indices for its S&P/Case-Shiller Home Price   Indices showed average home prices increased 11.6 percent and 12.1   percent for the 10- and 20-City Composites in the 12 months   ending in April 2013.  The   cities of Atlanta, Dallas, Detroit and Minneapolis posted their highest  annual gains since the start of their respective indices.   Atlanta, Las Vegas,   Phoenix and San Francisco posted year-over-year gains of over 20   percent in April. Mortgage rates are trending up as   well. The average 30-year fixed-rate mortgage (FRM) rose from 3.93 percent   last week to 4.46 percent this week; the highest it has been since the week   of July 28, 2011. Last year at this time, the 30-year FRM averaged 3.66   percent. This represents the largest weekly increase for the 30-year FRM   since the week ending April 17, 1987. Despite recent gains in mortgage rates,   homebuyer affordability remains which should help fuel the ongoing   housing recovery.

This entry was posted on Sunday, July 7th, 2013 at 4:29 pm and is filed under Atlanta Housing Market, Home Buyers, Mortgages. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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