Real Estate News

 Sales of new single‐family houses in September 2019 were at a seasonally adjusted annual rate of 701,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development.  This is 0.7 percent below the revised August rate of 706,000 but is 15.5 percent above the September 2018 estimate of 607,000 (census).

Existing-home sales receded in September following two consecutive months of increases, according to the National Association of Realtors®. The Midwest had the highest declines. Total existing-home sales,, completed transactions that include single-family homes, townhomes, condominiums, and co-ops, fell 2.2% from August to a seasonally adjusted annual rate of 5.38 million in September. Despite the decline, OVERALL SALES ARE UP  3.9% from a year ago (5.18 million in September 2018) (realtor).

The national average rate for 30-year mortgage money is 3.54%, FHA 30-year
is 3.35, 15-year is 3.19%, Jumbo Loans average 3.65%, and 5/1 arms are 3.34%. 

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