While the housing market in Mason City and North Iowa isn't experiencing a severe value decline as in other parts of the country, the market is definitely soft.
I've spoken to several mortgage lenders in the past few weeks. All of them agree that fewer people in general are applying for mortgages locally compared to one year ago. No longer do buyers enjoy 100% loan programs. They're needing more money down.
According to one mortgage lender "The market is definitely softening. Values are not as high so owners are hanging on to their current homes."
The good news for buyers with good credit, interest rates are still under 6%. A great time to buy if you have your ducks in good order!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment