Interest rates rise & Pending home sales highest level since 2006

Posted on May 30, 2015 by Rory Mark Schmer from South Florida
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Interest rates rise & Pending home sales highest level since 2006

Pending home sales rose in April for the fourth straight month and reached their highest level in nine years. The Pending Home Sales Index, a forward-looking indicator based on contract signings, increased 3.4 percent to 112.4 in April from a slight upward revision of 108.7 in March – a year-to-year 14 percent increase.

Now is the time to buy! Call Rory at 954.465.8147, he will walk you through the sale process and locate you that perfect residence. We are dream weavers!

The increase in the number of April pending sales is the largest annual increase since September 2012. The index has now increased year-over-year for eight consecutive months, and it's at its highest level since May 2006.

Average long-term U.S. mortgage rates rose this week to their highest level so far this year as new data showed strength in the housing market. Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage increased to 3.87 percent from 3.84 percent a week earlier. The rate on 15-year fixed-rate mortgages advanced to 3.11 percent from 3.05 percent.

Home prices rose at a steady pace in March, according to the latest Standard & Poor's/Case-Shiller 20-city home price index showing a 5 percent increase in March from 12 months earlier. Prices rose at the same pace in February.

Home values are rising at a faster rate than incomes, potentially pricing many would-be buyers out of the market.

Considering buying, selling or renting Real Estate here in Miami-Dade, Broward or the Palm Beach Counties? We have resided here in South Florida for 45 plus years. Conducting Real Estate on a very high level! Making friends and building relationships.

Please contact Rory Mark Schmer Founder of SouthFloridaHomeSale.Com

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• Loyalty
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You can reach me directly at 954.465.8147 we operate 24/7. We are email and text friendly so please feel free to contact us VIA any means available. I am always here for you!

I have surrounded myself with the best associates in the business. We have attorneys on staff and should you need mortgage assistance our lenders are incredible. 

I look forward to hearing from you. Check out our website www.southfloridahomesale.com she's loaded with information and content. I know you will appreciate her.

Have a great day,

Rory Mark Schmer PA