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/.
![BlogWebPhoto-LakeForest-10162009 [08]](http://www.realtyleaders.biz/wp-content/uploads/2010/01/blogwebphoto-lakeforest-1016200908.jpg)
tate of Alabama. ![BlogWebPhoto-LakeForest-10162009 [01]](http://www.realtyleaders.biz/wp-content/uploads/2010/01/blogwebphoto-lakeforest-1016200901-1.jpg)
e MLS (Multiple Listing Service) REALTOR listings. Most of the listed homes have 1,300 to 3,000+ square feet (varies from unit to unit) and the asking prices will primarily range from $125,000 to $255,000.![BlogWebPhoto-LakeForest-10162009 [06]](http://www.realtyleaders.biz/wp-content/uploads/2010/01/blogwebphoto-lakeforest-1016200906.jpg)
six months ago. The days on market (dom) appears to mostly range from 96 days to 147 days over the past 12 months.![BlogWebPhoto-LakeForest-10162009 [03]](http://www.realtyleaders.biz/wp-content/uploads/2010/01/blogwebphoto-lakeforest-1016200903.jpg)
obile County of Alabama. Albert Cheney has 35+- years experience in the real estate industry. ![BLOGphoto-PottersMillDaphne-Entrance-11232009 [02]](http://www.realtyleaders.biz/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.realtyleaders.biz/wp-content/uploads/2010/01/blogphoto-pottersmilldaphne-house-1123200903.jpg)
The Potters Mill subdivision (entrance photo above) is only one residential development of many to choose from in Daphne and its surrounding areas. Asking prices for homes are from low to high, and will fit any household budget. Daphne, Alabama and the Eastern Shore are worth your time of research and, hopefully, a visit.