http://localism.com/pa/jeffersonville/rss en-us <p>As the end of February nears, interest rates are at their highest levels since the end of last year.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Many things have weighed on the market to move interest rates higher.&nbsp;&nbsp;&nbsp;&nbsp; This morning&#39;s Real Estate numbers were slightly negative, but because they were being predicted to be a lot worse interest rates continued to move up.</p><p>New home prices were down 4.6% for January and the new median house is worth $201,000</p><p>Existing home sales were down 0.4 percent for the month of January.</p><p>Inventories roses more than 5% and were up more than 18% as compared to a year ago.&nbsp;&nbsp;&nbsp; This means that it will take even longer to sell your average listing.&nbsp;&nbsp;&nbsp;&nbsp; </p><p>&nbsp;</p><p>Interest rates are now approaching the 6.25% mark on 30 year fixed rate conventional money.</p><p>I am still able to do my famous....&nbsp; &quot;No Fee Refi&quot; deal for anyone that is interested.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; It was a lot easier and attractive at 5.625% and No Fees than it is at 6.25% and No Fees.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p><p>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.&nbsp;&nbsp;&nbsp;&nbsp; This way once the market cooperates they can lock in, and close in less than a week!!</p><p>&nbsp;</p><p>As always, don&#39;t hesitate to give me a shout on my cellphone if you have questions.&nbsp;&nbsp;&nbsp; (215) 870 - 3060</p><p>&nbsp;</p><p>&nbsp;</p><p>&nbsp;</p> Chris Catanese http://localism.com/neighbor/chriscat2008 Mon, 25 Feb 2008 13:35:44 -0600 http://localism.com/blog/pa/jeffersonville/posts/394774/February-25th-Market-Update 3a84f7435ea361dcfa93b40acae3f102f8c78a2e3d11d31a4b747b58c4cf8481