POSITIVE REALTY NEWS
New Target for Federal Funds Rate: The Federal Reserve set a new target for the federal funds rate of zero to 0.25 percent. This is the lowest rate on record and is expected to encourage lending between banks, improve the economy and help prevent a potentially dangerous downward spiral in consumer prices.
Pending Home Sales Rise: According to the National Association of Realtors, the Pending Home Sales Index, a forward-looking indicator based on contracts signed in October, rose 0.6 percent in the Northeast. More pending home sales means more closed business!
Foreclosures Drop to June Levels: As a result of recently enacted laws that have extended the foreclosure process in some states, more aggressive loan modification programs and foreclosure moratoriums by some lenders, foreclosure activity dropped 7 percent in November to the lowest level since June.
Mortgage Rate Hits Four-Year Low: For the week ended Dec. 11, the 30-year fixed-rate mortgage was at its lowest level in more than four years, according to Freddie Mac. The improved affordability is great news for buyers.
Independence Hall
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About Me
- Lisa Novakoski, Weichert, Realtors - Spring House, PA
- After working for 10 years in Housing and Residential Life on College and University campuses in the northeast coupled with my experiences in a family of carpenters, I decided a career in realty is what I desired. This is my opportunity to share my expertise as a REALTOR in the Greater Philadelphia Region.
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