Monday, August 25, 2008

Mortage Rates and Housing Inventory Update

Well Housing Inventory in Cache Valley Utah has stayed pretty stable over the past month. There are currently 671 single family home listings and 767 total MLS listings. This is almost identical to where it was a month ago. The number of listings on the market historically goes down at the end of summer as this is when the highest percentage of homes sell. If this housing inventory doesn't reduce, we could be in for a long winter with modest price declines.

Mortgage rates have fluxuated up and down with varying economic news, but seem to be staying between 6 and 6.5 percent for fixed rate mortgages. The Northern Utah Mortgage Update today had 30 year fixed mortgages at 6.375% and 15 year fixed mortgages had a rate of 5.875%.

1 comment:

Anonymous said...

You have a lovely website, very informative.

However, please change the spelling from "fluxuate" to "fluctuate." Just a nit picking, because you have a really informative website.