Jeffersonville, PA

As the end of February nears, interest rates are at their highest levels since the end of last year. Many things have weighed on the market to move interest rates higher. This morning's Real Estate numbers were slightly negative, but because they were being predicted to be a lot worse interest rates continued to move up.

New home prices were down 4.6% for January and the new median house is worth $201,000

Existing home sales were down 0.4 percent for the month of January.

Inventories roses more than 5% and were up more than 18% as compared to a year ago. This means that it will take even longer to sell your average listing.

Interest rates are now approaching the 6.25% mark on 30 year fixed rate conventional money.

I am still able to do my famous.... "No Fee Refi" deal for anyone that is interested. It was a lot easier and attractive at 5.625% and No Fees than it is at 6.25% and No Fees.

I have advised my clients that decided not to lock in at 5.625% to get their appraisals done, and to get approved and keep an eye on the market. This way once the market cooperates they can lock in, and close in less than a week!!

As always, don't hesitate to give me a shout on my cellphone if you have questions. (215) 870 - 3060