Hello everybody, welcome back to Suburban Snacks. I’m Cade Olof and this month’s snack is Reese’s White Tree’s. Before we review the snack, we will be discussing the boost of Mortgages from home buyers as interest rates continue to fall. Mortgage rates fell last week for the fourth time in five weeks, and homebuyers appear to be responding. Demand from current homeowners to refinance, however, fell sharply. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 7.37% from 7.41%, with points increasing to 0.64 from 0.62 (including the origination fee) for loans with a 20% down payment. Mortgage applications to purchase a home rose 5% for the week but were still 19% lower than the same week one year ago. As interest rates continue to rise, we may see an increase in Mortgages but the ongoing issue is the low supply of the housing market. So if you are someone looking to purchase or sell a home in Southern Arizona, then we at Suburban would love to help!
Now it’s time for the snack review. Do you like Reese’s White Tree’s? Let us know in the comments below. That’s going to do it for us here at Suburban Snacks. If you have any questions or would like to get into contact with us feel free to check out our website at suburbanrealestategroup.com. Thanks for watching, my name is Cade Olof and we will see you in the next one.
