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Archive for the 'News on Interest Rates' Category
Mortgage Insurance Premiums Deductible For 2007
December 12th, 2006 categories: Tampa Real Estate, News on Interest Rates
From First Security Mortgage (thanks Craig)
The legislation allows taxpayers who itemize their deductions to deduct premiums paid for mortgage insurance - which typically is required when home buyers purchase their homes with less than 20 percent down.
Currently, only the interest paid on one’s mortgage is deductible if the taxpayer itemizes deductions.
The new insurance premiums deduction will only apply to mortgage insurance contracts issued in 2007 and is only available to taxpayers whose adjusted gross incomes do not exceed $110,000 ($55,000 for married taxpayers filing separately).
Tampa Listings Inventory Remains Flat
November 17th, 2006 categories: Tampa Real Estate, News on Interest Rates, Tampa Market Conditions
The amount of available residential listings in Tampa continues to remain steady, a trend that began back in early October of 2006. Since April, the listings inventory had been on a fairly rapid climb, while the number of listings going under contract had been falling.
These numbers began to stabilize in early October and have remained fairly flat since then. There was a slight downward tick in the number of listings available in Tampa as compared to a week ago.
As of this morning there are 7547 residential properties listed in Tampa with another 1682 listings under contract and pending closing.
Thirty year mortgage rates averaged 6.24% for the week just ended, the lowest we’ve seen since March of this year.
Data used is from the Mid-Florida Regional MLS and does not include any “For Sale By Owner” properties.
Mortgage Rates See Slight Drop
September 15th, 2006 categories: Tampa Real Estate, News on Interest Rates
According to Freddie Mac, mortgage rates around the USA dropped slightly this week and still remain below 6.5% for a fixed rate 30-year loan with a 1/2 discount point.
Update of Tampa Residential Real Estate Inventory
September 8th, 2006 categories: Tampa Real Estate, Tampa Homes, Homes For Sale in Tampa, News on Interest Rates, Tampa Market Conditions
Residential properties listed for sale in Tampa grew by 46 units over the past 7 days while the number of properties under contract pending a closing fell by 77 units. Layman’s Terms: More on the market and less buyers and sellers coming to terms.
Meanwhile, mortgage rates are stayed pretty flat as compared to a week ago with the average rate on a 30-year fixed loan at 6.47% with 0.4 fees and points.
Mortgage Rates Drop for Second Week in a Row
August 5th, 2006 categories: Tampa Real Estate, Tampa Homes, News on Interest Rates
Rates on 30- year fixed rate mortgages dropped for the second week in a row to 6.63% as of 8/2/06. That is the lowest rate since mid-June. Good news for both buyers and sellers. Interest rates, in my opinion, have little to do with the slowing pace of real estate sales. The speculative buyers are gone for the most part. The buyers that are out there, in the residential marketplace, are the end-users. The main problem that I am finding is the gap bewteen buyers and sellers regarding the perceived value of a property. Buyers, not feeling pressured by competition, are very wary about overpaying for a property. Sellers, most of whom are not quite in touch with the market, have unrealistic ideas about what their homes are worth. This makes it very difficult to come to terms. Such is the way of the shifting market. As time passes and buyers realize that prices have stabilized, and sellers realize their party is over, I think we’ll see a return to normalcy.
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