Archive for the Interest Rates Category

APRIL 2014 PORTLAND METRO REAL ESTATE UPDATE!!!

April12
Placido Domingo - "Younger than Springtime" Spring has sprung and we are seeing the usual real estate uptick as we head solidly into the spring selling season.  Activity in the Portland metro area is continuing to trend upward for the first quarter of 2014, but we are not quite as robust as the first quarter of 2013! Total average market time fell to 85 days in March and inventory decreased to 3.1 months (inventory in months is calculated by dividing the active residential listings at the end of the month by the number of closed sales for that month).  The average sales price in the fir… Read More

March 2014 Portland Metro Real Estate Update

March20
A Medley of Songs about Spring “Spring has Sprung” (on the calendar anyway).  And, our real estate market has a spring in its step also.  February saw an increase in closed sales in the Portland metro region!  As a matter of fact, a 5.1% increase over January.  It was the best February closings since 02/2007!!!  And, remember that RMLS (regional multiple listing service) statistics record March 2007 as the “height of the market”!!  Inventory fell slightly to 3.9 months of inventory.  Portland area prices are still rising.  The average price of homes in February 2014 shows … Read More

What Determines the Interest Rate on My Mortgage?

February21
Kwanzaa Songs Kujichagulia Self Determination Today's post is a re-post from Eric Newman of NW Mortgage Group.  It contains interesting and very informative FAQ's  if you are considering purchasing a home or investment property.  This includes a very g… Read More

APR vs Interest Rate When Closing a Home Mortgage!

December10
Van Morrison - Days Like This What makes all buyers gasp or smile at the closing table on the purchase of a home?  Well, it's usually the A.P.R or annual percentage rate.  You gasp to know how much you actually pay (with interest) for a home.  But, you smile as you understand that interest (and taxes) are a income tax write-off.  This APR is definitely not the interest rate that you negotiated or received from your mortgage broker.  But, unfortunately, it can be manipulated in advertising and under-disclosed.  Usually, the lower the APR, the better the over-all deal for the consumer… Read More