Nashville Mortgage Rates Drop!

During the week ended Oct. 25, the 30-year fixed mortgage rate fell to 6.33% from 6.40% the prior week, according to Freddie Mac. Interest on 15-year fixed loans dropped to 5.99% from 6.08% over the same period. Meanwhile, interest on one-year adjustable-rate mortgages slipped to 5.66% from 5.76%; and the five-year hybrid ARM registered a decline to 6.03% from 6.11%. Freddie Mac chief economist Frank Nothaft attributed the lower rates to concerns about an economic slowdown and uncertainty about the impact of the housing downturn on the economy.

We still believe that there will be a quarter point basis drop coming within the next week or so. Look for Nashville mortgage rates to continue dropping all the way through the presidential election in 2008. Be sure to check out our Nashville commercial property if you are considering investing in our area. Our commercial brokerage is second to only our residential brokerage!

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Nashville Mortgage Rates Drop!

During the week ended Oct. 25, the 30-year fixed mortgage rate fell to 6.33% from 6.40% the prior week, according to Freddie Mac. Interest on 15-year fixed loans dropped to 5.99% from 6.08% over the same period. Meanwhile, interest on one-year adjustable-rate mortgages slipped to 5.66% from 5.76%; and the five-year hybrid ARM registered a decline to 6.03% from 6.11%. Freddie Mac chief economist Frank Nothaft attributed the lower rates to concerns about an economic slowdown and uncertainty about the impact of the housing downturn on the economy.

We still believe that there will be a quarter point basis drop coming within the next week or so. Look for Nashville mortgage rates to continue dropping all the way through the presidential election in 2008. Be sure to check out our Nashville commercial property if you are considering investing in our area. Our commercial brokerage is second to only our residential brokerage!

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Mortgage Rates Remain Flat

Freddie Mac says Nashville mortgage rates barely budged last week due to conflicting economic reports, with robust retail sales in September offset by a disappointing outcome in consumer confidence this month. The 30-year fixed mortgage rate held steady at 6.31%, while interest on 15-year fixed loans rose to 6.08% from 6.06%. The 1 year adjustable mortgage rate climbed to 5.76% from 5.73%, and the five-year ARM slipped to 6.11% from 6.12%.

With the impending rate drops from the Fed, it appears that we might see rates dip in the upper 5% range by the beginning of the year. While the Nashville new construction market seems to be slipping, Nashville rental rates remain very high allowing you to purchase as an investment property for the next few years.

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Mortgage Rates Remain Flat

Freddie Mac says Nashville mortgage rates barely budged last week due to conflicting economic reports, with robust retail sales in September offset by a disappointing outcome in consumer confidence this month. The 30-year fixed mortgage rate held steady at 6.31%, while interest on 15-year fixed loans rose to 6.08% from 6.06%. The 1 year adjustable mortgage rate climbed to 5.76% from 5.73%, and the five-year ARM slipped to 6.11% from 6.12%.Nashville rental rates remain very high allowing you to purchase as an investment property for the next few years.

With the impending rate drops from the Fed, it appears that we might see rates dip in the upper 5% range by the beginning of the year. While the Nashville new construction market seems to be slipping.

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Nashville Market Update

The Nashville real estate market has certainly slowed with the rest of the country, but we still have not seen the “sell off” other areas have seen. An article was published about two weeks ago now that stated our sales volume has dropped almost 25% in 12 months, but our prices have increased by 3%. This has created a buyer’s market here and we are now starting to see some pretty good deals available on select houses. There are still a lot of people out there who have their home on the market just to see if they can still cash in from what happened a year ago, but those homes will eventually come off the market. The trick is identifying which homes are really need to sell and which are just dreaming of a sale.

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Nashville Market Update

The Nashville real estate market has certainly slowed with the rest of the country, but we still have not seen the “sell off” other areas have seen. An article was published about two weeks ago now that stated our sales volume has dropped almost 25% in 12 months, but our prices have increased by 3%. This has created a buyer’s market here and we are now starting to see some pretty good deals available on select houses. There are still a lot of people out there who have their home on the market just to see if they can still cash in from what happened a year ago, but those homes will eventually come off the market. The trick is identifying which homes are really need to sell and which are just dreaming of a sale.

If you enjoyed this post, you may also like:
The Healthiest Housing Markets for 2009
The Media Vs. The Real Estate Market
Nashville Real Estate Resources

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