Thursday, June 14, 2007

Listings are slow; interest rates are up

It's now mid-June. Inventory of resale homes in the areas I serve seems to be shortening. This is good news for sellers, although that doesn't mean sellers don't have competition. The bad news for everybody is that interest rates are up. "Jumbo" rates (for loan amounts over $400k) are almost at 7% -- gulp. All in all, tho, the market seems to have much more buoyancy than I thought it would at this point.

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