Home Prices, Sales Fall While Mortgage Rates Stay Low, Says Informa Research Services

(7/28/2011) CALABASAS, CALIFORNIA – According to numerous reports, the nation’s housing prices fell in 95% of the major cities included in the S&P Case-Shiller home price index. Informa Research Services, a subsidiary of Informa plc (LSE: INF), suggests that consumers who are in the market to purchase a home use self-education and online rate tables to find the best deal available (http://www.erate.com/current-mortgage-rates-30-year-fixed-mortgage-rates.htm).

Not only did home prices fall in the past quarter, but home sales fell as well. Some speculate that this decrease in both price and sales can be attributed to a dilapidated selection of homes available on the market.  Home values have stayed low “amid a glut of distressed properties for sale and downbeat sentiment among homebuilders and buyers,” according to the Financial Times.

Nonetheless, mortgage rates appear to be steady and low.  According to Informa Research Services’ Interest Rate Review, the national average rate on a 30 year fixed rate mortgage was 4.76% this week, practically unchanged over the past few weeks. Furthermore, 30 year fixed rate jumbo mortgages averaged 5.26% last week.

Consumers who are considering buying a home soon should use online resources, such as the rate tables on ERATE.com, to scope out the latest and best local mortgage rates.  These tables often feature lenders who offer rates well below the current national average.  For instance, AimLoan.com currently offers a traditional 30 year fixed rate mortgage at just 4.25% with no points.

By finding financing with the lowest possible rate, consumers can ensure they reap the most benefits from their home purchase.


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