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Why Some Buyers Are Feeling Like They Missed Out
Daily Real Estate News | Tuesday, June 11, 2013
Mortgage rates and home prices are on the rise, and some home buyers who were waiting around for the housing market to reach bottom are realizing now they may have missed the boat.
Mortgage rates are inching up, with the 30-year fixed-rate mortgage averaging 3.91 percent last week -- up from 3.3 percent in early May, according to mortgage giant Freddie Mac.
"It's unlikely that rates will ever be that low again," says Doug Duncan, Fannie Mae's chief economist.
The Fed has been keeping interest rates at record lows by buying up to $85 billion a month in Treasury bonds and mortgage-backed securities, which has helped bolster the housing market.
"Up until recently, expectations were that the Fed would begin to taper purchases of mortgage-backed securities and Treasury bonds late in 2013, but that time frame appears to have moved to September, possibly sooner," says Keith Gumbinger, vice president of HSH.com, a mortgage information company.
As the economy continues to gain traction, interest rates are expected to continue to increase, Gumbinger says, since low rates often are associated with a distressed economy.
But even if mortgage rates move up a percentage point or two, housing experts note that mortgage rates will still be low by historical standards.
"The 30-year [mortgage rate] hit a 37-year low in 2003 at 5.23 percent," Gumbinger says. "That was the previous low-watermark prior to this financial crisis, and it's likely we will move closer to that mark as we grind forward."
Source: “Why You Missed the Boat On Record-Low Mortgage Rates,” CNNMoney (June 6, 2013)
Hampton Falls is located in Rockingham County, New Hampshire. It is a typical rural New England town, with colonial homes, rolling farmland and apple orchards. Hampton Falls is home to Applecrest Farm Orchards, the largest and oldest orchard on New Hampshire’s Seacoast. An abundance of farms in Hampton Falls offer fresh grown produce, inlcuding strawberries, blueberries, apples and vegetables.
At the center of this quite and peaceful town lies the town green, a war memorial and a bandstand. The First Baptist Church and the Lincoln Akerman School are also located at the center of town. Located furthter down Route 88 is the town’s offices, library, police station and fire department.
Hampton Falls was settled in 1638, and became a town in 1726. The town’s name as derived from the falls on Taylor River. Famous Hampton Falls residents inlcude Wesley Powell, New Hampshire’s Governor in the early 1960’s and Warren Brown, a town historian and politician.
According to the 2000 U.S. Census Bureau, the population in Hampton Falls at the time was 1,890 people. This included 704 households and 546 families. The average family size was 3.03 and the average household size was 2.67.
Hampton Falls Real Estate and Homes: In 2000, there were 792 homes in Hampton Falls and an average of 60 homes (houses / condos) per square mile. In 2007, it was estimated that real estate in Hampton Falls was comprised of a total of 847 homes. This included 765 single-family homes and 70 multi-unit homes.
Please contact Better Homes and Gardens Real Estate The Masiello Group for homes for sale in Hampton Falls, New Hampshire, homes for sale in Rockingham County, New Hampshire, and for all your real estate needs.