Real Estate News 2020 May 9

Real Estate News 2020 May 9

Record low rates: There is at least one bright spot amid the economic mayhem brought on by the novel coronavirus. Average mortgage interest rates have fallen to new record lows, a boon to both potential buyers and homeowners who may want to refinance. It adds up over the life of that 30-year loan. –realtor.com


Demand returns: Home-buying demand is making a speedy recovery, within 15% of pre-pandemic levels as of April 27 after plummeting as much as 34% in March. In the seven days ended April 24, almost 53,000 new homes hit the market. Still, there were fewer than 700,000 homes for sale, the lowest inventory level in five years.  Redfin


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Phone: 206-953-5090
Dated: May 9th 2020
Views: 46
About Mary: Hello, my name is Mary Smith with RE/MAX Realty South and I serve in King County. I was awarded Re...

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