Good morning everyone! Happy holidays to all.
The big news in the market of late is the big move in mortgage rates. They are dropping like a rock with some 30 year conventional rates quoted as low as 4.5%. As the third link below points out, the number should be even lower. A more traditional spread would have rates at 4%. However, it's hard to complain, and the rush is on to refinance. It would be hard to see rates get much lower.
Mortgage Applications Soar, B of A Sees Market Bottom In Mid-2009 (WSJ)
Mortgage Rates Hover At Historic Low (Detroit Free Press)
Mortgage Rates Should Be Even Lower (Bloomberg)
Low End Now Supporting Real Estate Market (NY Times)
Condos Flood North Williamsburg (NY Times)
Barack's Posh Vacation House (AP via Luxist)
National Luxury Real Estate Round Up (Luxist)