Archives May 2013

May
31
2013

1 Year After Hitting Bottom Portland Home Prices Up

One year after bottoming out, Portland-area home prices continue to rebound as the shortage of homes for sale continues. The rebound has been boosted by strong demand from buyers, in part fueled by low interest rates. In Portland last month there were only 3.1 months worth of homes on the market, indicating a strong seller’s […]

May
15
2013

Home Affordability Drops But Remains Historically High

Home affordability fell in the year’s first quarter, but low interest rates and home prices kept the number at a near record high. According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index, Homeowners with a median family income of $64,000 were able to afford 73.7 percent of all new and existing homes […]

May
3
2013

Mortgage Rates Head into Record-Low Territory

According to reports from Freddie Mac and Bankrate.com Mortgage rates, which have been declining for 7 consecutive weeks, approach record low. This week¬† a 30-year fixed-rate mortgage averaged 3.35 %, down from 3.40 % last week. The all-time low average is 3.31%, set the week of November 21, 2012. In May of last year, the […]

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