NEW YORK (TheStreet) — Mortgage rates continued to sail higher for the fifth consecutive week, according to Freddie Mac, with the most popular mortgages inching further toward 5%.
Traditional 30-year fixed mortgages cost 4.83% on average, for the week ended on Thursday, with a discount of 0.7 point. Though still below year-ago levels, those rates jumped significantly from the previous week’s 4.61% rate and the 4.17% low hit in early November; 30-year fixed rates haven’t been this high in seven months.
Continue reading Interest rates continue to climb!
Lake Norman Foreclosure Homes
In November 2010 there are 161 foreclosure, preforeclosure & short-sale properties listed in the Lake Norman area, a 3% increase from the 156 foreclosure, preforeclosure & short sale properties for sale in October 2010. Prices range from $29,900 for a double-wide to $1,900,000 for a waterfront home in The Point.
Twenty-one foreclosure/short sale homes closed in November 2010. This was an increase of 11% from the 19 foreclosure homes sold in October 2010. The average home was a 3 bedroom with 3,393 square feet and an average sale price of $386,618. The average sales price decreased $6,232 or 2% from the previous month. The average days on the market were 123, a 2 day increase from October 2010.
Fifty foreclosure and short sale properties are currently under contract, a 14% decrease from October 2010.
Lake Norman Foreclosure Condos & Townhomes
In November 2010 there are 9 foreclosure, preforeclosure & short-sale Lake Norman area condo/townhome properties listed, a 29% increase from the 7 foreclosure, preforeclosure & short-sale properties listed for sale in October 2010. Foreclosure prices range from $169,000 to $219,900. The average unit is a 2 bed/2 bath with 1,597 square feet and an average list price of $180,388.
Zero foreclosure, preforeclosure or short-sale condos/townhomes closed in November 2010. This was a decrease of 0% from the 0 foreclosure, preforeclosure or short-sale condos sold in October 2010. Two units are currently under contract.
If you would like to be added to the foreclosure properties notification list and the Lake Norman area “Best Buy” list please fill out the form on our website.
If you need help stopping foreclosure on your Lake Norman property please give us a call at 866-LakeNorman
Fannie Mae is offering buyers up to 3.5% in closing cost assistance on HomePath properties through December 31, 2010.
Buyers must meet the following qualifications to be eligible for the incentive: Continue reading New Buyer Incentive on HomePath Foreclosure Homes For Sale