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Interest Rates

Q2 2016: Des Moines Metro Housing Snapshot

By Kalen | Published July 27, 2016

Home sales in the Des Moines Metro are on track to break records this year as local REALTORS belonging to DMAAR have reported a total of 4,524 single-family homes sold as of July 1, 2016. Of those, 719 or 16 percent, are new-construction homes. Inventories of RESIDENTIAL REAL ESTATE are at an all time low, both locally and nationally. Today, the Des Moines-area has 2,150 single-family homes on the market–A 2.8 MONTHS SUPPLY–compared to 2,418 at the end of June last year. The inventory of new construction, includes 644 single-family homes on the market, which is up by 44 homes over a year-over-year basis. One may think that with the low inventory that buyers have to choose from, this would [...]

Also posted in Housing Statistics, New Construction | 1 Comment

The Importance of Interest Rates for Home Buyers and Sellers

By Kalen | Published October 27, 2014

Interest rates are always an important topic to my buyers and sellers. Today is an amazing time to lock into an interest rate, as rates are again at historically low levels. In 2014, we have seen rates slightly rise to around 4.25 percent, and then recently keep dropping again to very low levels. A 30-year fixed rate starts at 3.75 percent, and a 15-year rate starts at 2.875 percent. Talking to a local lender, Bryan Rowland at State Savings Bank, he mentioned that the recent fear of a weakening global economy as well as the Ebola and ISIS scares has more people moving more money into U.S. Treasury market. Increasing demand for U.S. Treasuries decreases mortgage interest rates. Most would not [...]

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