Tuesday, November 25, 2008

Interest Rates Way Down - 30 Year Fixed. 5.5%

Good news for home buyers and soon to be buyers. Interest rates have dropped to make housing even more affordable.

Right now 30 year fixed mortgages can be obtained at 5.5%. Interest

FHA loans are going for 5.75%.

It's a great time to buy when you consider that home prices are down, and interest rates are great. If you had a $200,000 home loan at 7% interest, you would be paying $1,330 per month P.I. At 5.5% that payment would be $1,135 per month. That's a savings of $200 each monthy.

For more information on available loan products, contact Paul Vaslett with Cache Valley Mortgage. (435) 752-1414

Thursday, November 6, 2008

Logan Home Sales Consistent

For the second straight month home sales in Cache County are at least as good as they were a year ago. In October, 91 residential homes in Cache Valley were sold. This is exactly the same number as were sold last year. The average price of these homes sold was actually up 5% at $189,264, but the price per square footage was down to $79 per square foot. The lowest level in a year and a half. This shows that some large homes were sold at some pretty good prices during October.

Inventory of existing homes continues to go up. There are currently 778 active residential home listings in Cache Valley. The median price of these listings has dropped slightly and is now $207,900, $33,000 higher than the October median sold price of $174,000. To view all Logan Utah Homes for sale visit Real Estate Logan.com.