As of today, 3rd February 2010, the refinance rates are, as follows: (1) 30 yr Fixed Rate, Today, 5.19%, Last Week, 4.94%; (2) 15 yr Fixed Rate, Today, 4.4%, Last Week, 5.06%; (3) 5/1 ARM, Today, 4.53%, Last Week, 4.12%.
According to an article in Mortgage News Daily, “A rising trend of mortgage applications indicates an increase in home buying interest, a positive for the housing industry and economy as a whole. More home purchases can lead to more construction jobs and increased purchases of items to build a home. Furthermore, in a low mortgage rate environment, an increasing trend implies consumers are seeking out lower monthly payments which can result in increased disposable income and therefore more money to spend on discretionary items or to pay down other debt.”
The article further states, “Don’t wait for mortgage rates to decline! I stand by my statement that 4.75% could very well be the lowest mortgage rates offered in 2010…unless there is a fundamental shift in economic outlook. If you have been waiting to refinance or to buy, get out there and start the process before you miss the boat of sub 5% rates.”
Click this web-link, http://www.mortgagenewsdaily.com/consumer_rates/132989.aspx, to read the entire article by Victor Burek.
The Mobile Bay Metro Area, Baldwin County and Mobile County of Alabama, has ongoing (and potential future) economic projects which may have an advantage over other U. S. regions. Our real estate market should draw more positive attention in the near future.
Contact Al Cheney, Certified FHA Approved Real Estate Appraiser, (251) 533-2424, when requiring a residential appraisal report for refinancing, settling an estate with real property, or various other litigation reasons in Alabama. Email your orders and questions to Albert@CheneyAppraisalServices.com/.
![BLOGphoto-TimberCreek-Sign-01252010 [01]](http://www.mobilealabamafharealestateappraisers.com/wp-content/uploads/2010/01/blogphoto-timbercreek-sign-0125201001.jpg)
the south side of U. S. Highway 31, the west side of Alabama State Highway 181, on the north side of U. S. Interstate Highway 10 and just minutes east of the delta areas and Mobile Bay.![BLOGphoto-TimberCreek-GolfCourse-01252010 [02]](http://www.mobilealabamafharealestateappraisers.com/wp-content/uploads/2010/01/blogphoto-timbercreek-golfcourse-0125201002.jpg)
e past twelve months according to the Baldwin County Association of REALTORS. The vast majority of these ![BLOGphoto-TimberCreek-Homes-01252010 [05]](http://www.mobilealabamafharealestateappraisers.com/wp-content/uploads/2010/01/blogphoto-timbercreek-homes-0125201005.jpg)
Per Month Absorption Rate is currently three (3) homes per month in ![BLOGphoto-PottersMillDaphne-Entrance-11232009 [02]](http://www.mobilealabamafharealestateappraisers.com/wp-content/uploads/2010/01/blogphoto-pottersmilldaphne-entrance-1123200902.jpg)
Daphne, Alabama, “The Jubilee City,” was established in 1874 (incorporated in 1927). Daphne has a rich heritage and community spirit with a small town desirable ambiance.![BLOGphoto-PottersMillDaphne-House-11232009 [03]](http://www.mobilealabamafharealestateappraisers.com/wp-content/uploads/2010/01/blogphoto-pottersmilldaphne-house-1123200903.jpg)
dren.
0 and $840,000 with 4,296 to 4,939 square feet .
