Mortgage Rates Lowest in 2 Years

SAN FRANCISCO (MarketWatch) -- U.S. fixed-rate mortgages fell again in the latest week, according to Freddie Mac's survey released Thursday. The national average interest rate on the benchmark 30-year, fixed-rate loan averaged 6.10% in the week ending Thursday; it hasn't been lower since the week ended Oct. 13, 2005, when it averaged 6.03%. The current rate is down from 6.20% a week ago and 6.14% a year ago. The 15-year fixed-rate loan averaged 5.73%, down from 5.83% a week ago and 5.87% a year ago. The five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 5.86%, compared with 5.88% a week ago and 5.95% a year ago. "Interest rates for U.S. Treasury securities have been drifting lower this month over market concerns that the housing slump and stress in the credit markets could slow future economic growth," said Frank Nothaft, Freddie Mac vice president and chief economist. "As a result, interest rates for fixed-rate mortgages had room to slip lower this week."

Provided by:
Echo Wentz
Coldwell Banker Mortgage

Wichita Housing Market

The Wichita area housing market is still doing well. There are 2,833 single family properties on the market in the Wichita and surrounding area. Properties sold since January 1, 2007 in Wichita and the surrounding area totalled 5,732. The average selling price was $133,846 with an average of 38 days on the market. Homes sold ranged from $2,500,000 down to $2,000.

I can do a breakdown of what homes in your area are selling for and what you need to do to get your home ready to sell. I can also give you a breakdown of an area you may be interested in buying a home in.

Call me at 992,1563 or email me at sandy.clemons@coldwellbanker.com

Sandy Clemons
Coldwell Banker, Stucky & Assoc.

Hello

This is my first post to my new blog. I am a Real Estate Agent in Wichita Kansas and I want to help you with all your real estate needs. I can help you buy, sell or answer questions you may have about the process. There are many steps in real estate transactions and you need a real estate agent to help you with it. I know people don't like to pay a commission, but it has been proven by statistics that by using a real estate agent, you will make more money in the long run, spend less time buying or selling and you have a professional that will work just for you either as a buyer's agent or a seller's agent. In my future postings, I will explain the processes and what an agent owes you when you are working with them.