Interest Rates Fall

Fixed rate mortgages fell to 6.45% on average, the lowest in 5 months. As rates fall and house prices fall, the market will self correct, it happened in the early 90s and it will happen again.

Soon families who make the monster commute on freeway 580 from towns to the east will tire of paying $4/gallon soon to be gas prices and start looking very seriously at Pleasanton homes for sale, and Livermore homes as a very viable option. Interest rates will stay low and should remain that way for nextyear as it is an election year.

I believe that the last two months have seen us in recovery mode. Inventory has fallen this month and sales volume is up. Livermore houses which have sat on the market for several months have sold signs on them. A recent Brokers open house I held had a record for me 62 visitors that day! Slowly but surely buyers are cautiously re-entering the market.

Related posts:

1. Could it be..a glimmer of light?
2. Buyers Beware!
3. Fannie Mae Limits Increased.
4. Have we hit bottom?
5. What to expect in 2011

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