Skip to main content
The Trentini Team
my account
site map
our twitterour facebook page
Evansville  Real Estate - Homes For Sale | Indiana Realtors - Agents
Search Evansville & Newburgh, Indiana Properties
Featured Listings
Evansville Real Estate - Homes for Sale | Indiana REALTOR®
Newburgh Real Estate - Homes for Sale | Indiana REALTOR®
Relocating to Southwest Indiana?
Buying and Selling Southwest Indiana Homes
About The Trentini Team - F.C. Tucker Emge REALTORS® - Southwest Indiana REALTOR®

Real Estate Blog
Latest Posts

 Real Estate Blog 
Sunday, March 08 2009
Here we have the latest changes in the interest rates of last week. We are still seeing historically low rates and long term speculation is that the Federal Government in Washington will lower rates further. We would also like to point out that new home buyers are entitled to a first time homebuyer tax credit of maximum $ 8,000.00. We have already seen an increase in the number of homes being sold and we are also seeing a decline in the month’s inventory index.
Mortgage rates were unchanged this week.
The average 30-year, fixed-rate remained unchanged at 5.41 percent. A basis point is one-hundredth of a percentage point.
This week's average 15-year fixed -- a popular option for refinancing -- edged up 1 basis point, to 4.94 percent.
The average jumbo 30-year fixed dropped 10 basis points, to 6.77 percent.
Adjustable-rate mortgages were down this week. The one-year, adjustable-rate mortgage fell 15 basis points, to 5.43 percent. The popular 5/1 ARM slipped 1 basis point, to 5.39 percent.
Mortgage loan application activity declined for the week ending Feb. 27. Applications dropped a seasonally adjusted 12.6 percent compared to a week earlier.
Refinancing activity slipped 15.3 percent while applications for new purchases fell 5.6 percent.
Meanwhile, pending home sales fell 7.7 percent in January to their lowest level since the National Association of Realtors began tracking these sales in 2001.
The Pending Home Sales Index is considered a forward-looking indicator because it is based on sales contracts signed in January that are likely to close no later than the end of March.
On a brighter note, the NAR says falling home values boosted housing affordability by 13.6 percent during the month to a record reading of 166.8.
The NAR Housing Affordability Index began in 1970. A value of 100 means families with the nation's median household income, $59,000, have just enough money to qualify for a mortgage to purchase a median-priced, $283,400, existing single-family home in the United States.
Posted by: Rolando Trentini AT 01:00 pm   |  Permalink   |  0 Comments  |  Email

Post comment
Email Address

(max 750 characters)
* Required Fields
Note: All comments are subject to approval. Your comment will not appear until it has been approved.

The Trentini Team
7820 Eagle Crest Bvd., Suite 200
Evansville, IN 47715
Office: (812) 479-0801
Cell: (812) 499-9234

Accredited Buyer Representative

Equal Housing Opportunity

Multiple Listing Service?



Pro Step Marketing

The Trentini Team is the sole owner of the information collected on this site. Neither The Trentini Team nor the team associates will sell, share, or rent this confidential information to others. Your privacy is the primary issue for The Trentini Team. 

By submitting personal information such as name, address, phone number, email address and/or additional data, the real estate client/prospect consents that The Trentini Team or their authorized representative may contact client/prospect by phone, U.S. Postal System, or e-mail whether or not client/prospect is participating in a state, federal or other "do not contact" program of any type.
Copyright© 2007 The Trentini Team, REALTOR®, All Rights Reserved.