According to the San Antonio Board of Realtors (SABOR) January report, the number of sales of existing homes increased 11% compared to January 2010. The average and median sales prices also increased by 3 and 4% compared to this time last year. Traditionally the winter months are the slower months of the year, so this is noteworthy.
Mike Gomez from Coldwell Banker Mortgage sent me the following local rates for San Antonio, Texas:
- Conventional 30 year Fixed – 4.875%
- Conventional 15 year Fixed – 4.25%
- VA 30 year Fixed – 4.875% **Coldwell Banker Mortgage does not charge the VA “non-allowable” fees which could save clients up to $1,500.
- FHA 30 year Fixed – 4.875%
Bankrate on Feb 17th also asked industry experts and analysts to provide their insights on if they thought rates would rise or fall and this is their response:
- 14% of respondents expect rates to fall ing the coming weeks
- 22% predict a further increase in mortgage rates while the remaining
- 64% forecast that mortgage rates will remain more or less unchanged