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Articles tagged with: mortgage rates

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[25 Jan 2011 | 2 Comments | 2,290 views]
Central Arkansas housing market down for December, year

In spite of slightly improved numbers in December, the central Arkansas housing market last year lagged considerably behind sales in 2009.
What weighed on the market last year? A sluggish economy obviously took its toll on sales in 2010 and a high unemployment rate didn’t help things either — Arkansas closed out 2010 with a 7.9 percent unemployment rate, which is up from 7.6 percent recorded at the end of 2009. Perhaps the largest factor impacting sales was the expiration of federal tax credits for first time and repeat home buyers.
Last …

Business, News, Real Estate »

[17 Jan 2011 | No Comment | 2,564 views]
December home sales up in northwest Arkansas

Considering how homes sales across Arkansas slumped in the second half of 2010, here’s a bit of a surprise — sales were up in northwest Arkansas in December.
According to statistics pulled from Arkansas Regional MLS (ARMLS), there were 456 homes sold in December in Benton, Carroll, Madison and Washington counties — up 10.68 percent from 412 sales during the same month in 2009.
Sales in northwest Arkansas — and just about everywhere else — have been in decline since tax credits for home buyers expired in April. Specifically, sales fell sharply …

Business, News, Real Estate »

[15 Jan 2011 | One Comment | 1,559 views]
Comparing ‘apples to apples’ in the housing market

Comparing housing market numbers has been a bit of a chore over the past few months as results from 2008 through the first part of 2010 have been skewed.
Let me explain. From April 2008 through April 2010, tax credits were available for home buyers. Economists have, in general, agreed that the tax credits increased demand for homes. During that two-year period, then, sales were well above what they would have been had the tax credits not been in place.
Additionally, the demand present during those two years was – in a …

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[26 Dec 2010 | One Comment | 1,319 views]
The week in review

So, did everyone have a good Christmas? Was Santa good to everyone?
We at First Arkansas News sure hope so and well understand that the festivities of the season may have kept some people from checking in here and picking up the latest news. In case you missed anything, we’ve provided this handy review of the stories we’ve had for the past week. Yay!
Before getting into that, however, it’s time to plug the easy ways to keep up with this little site. We’ve got email updates, an RSS feed and new …

Business, News, Real Estate »

[25 Dec 2010 | One Comment | 4,360 views]
What’s going on with mortgage rates these days?

It seems that both home buyers and mortgage bankers have been trying all year long to figure out something – how long will interest rates remain low?
That’s a good question, of course, because low mortgage rates translate into low payments on home loans. Low rates mean your average buyer can afford a more expensive home than he or she might be able to under ordinary circumstances.
And, yes, we’ve been living under extraordinary circumstances for the better part of the year. According to Mortgage-x.com, the national average rate on a 30-year, …

Business, News, Real Estate »

[11 Oct 2010 | 2 Comments | 1,568 views]
Tax credits for buyers are over, but it’s not the end of the world

Over the past couple of months, we’ve seen declines in homes sales and everyone from the National Association of Realtors (NAR) to economists on television have attributed the drops to the end of tax credits for first-time and repeat buyers.
That’s not hard to understand. The federal government started offering tax credits to home buyers in April 2008 and the final set of credits expired at the end of April this year. It just makes sense that sales would drop after tax credits – some offering up to $8,000 cash back …