April home sales dropped from the month before in Cerro Gordo County, according to deeds filed at the county auditor's office. Here are the numbers for each month of 2009.In April, 100 homes sold
In March, 108 homes sold
In February, 91 homes sold
In January, 74 homes sold
The good news is the numbers appear to be on the rise since the beginning of the year. One local builder commented to me that most of the homes selling are in the $60,000- $150,000 range.
Another good sign, bankers report there is an interest in mortgage applications.
"Our applications haven’t seemed to have dropped off yet. " said Pat Thompson, Farmers State Bank in Mason City. "They were slow to start but have been numerous for the last 30 to 45 days. Rates have ticked up a bit lately and are hovering around the 5% range this week. The big catch with the posted rates in publications is that this rate is for “well qualified borrowers”. I call it a start rate."
Those rates can rise based on several factors including a person's credit score and the LTV, or loan to value ratio.
No comments:
Post a Comment