With both U.S. and world economies improving, the bittersweet result is that residential mortgage rates have risen to higher levels. Concerns about inflation and rising bond rates resulted in 30-year fixed rate conforming mortgages rising to an average of 6.84%. While a slight further increase in rates won’t be a surprise, the recent tightening is not interpreted as the beginning of major rate climb.Combined with softening housing prices in much of the country, this is a great time to be a buyer, even with the slightly higher loan rates. In the greater Wilmington area, the buys, especially on or near the barrier islands look like great bargains in many cases compared to the prices in comparable or the same properties in 2005.
About BruceBrown
Bruce is a real estate broker and, along with his wife Marge, team leader of the Cape Fear Home Team in beautiful southeastern North Carolina - the San Diego of the east coast.
Born in Maine and raised in Connecticut, Bruce has been a freelance journalist, university and college professor, high school teacher, therapist, and business owner. Now he focuses on running a successful team of real estate brokers and helping new and experienced real estate investors build goal-focused property portfolios.
Bruce is a graduate of Klemmer & Associates Compassionate Samurai program and is dedicated to "making the world a better place, with no one left behind".
Bruce and Marge have recently written and published "Ready, Set, Invest!", a book and workbook combination to help beginning real estate investors start to figure out what real estate investing is all about. In addition to welcoming select new clients, Bruce is also available for private consultation on a limited basis.
To subscribe to the Cape Fear Home Team's free e-mail newsletter, write to Bruce at brucebrown@seacoastrealty.com or sign up via the team's website at www.capefearhometeam.com.