According to the Charlotte Business Journal, mortgage rates in Charlotte are holding steady. Published by Freddie Mac, a 30-year, fixed-rate mortgage averaged 5.01 percent as February arrived, up from 4.98 percent during the last week of January. Both rates are down from an average of 5.25 percent from the same time last year.
Although Charlotte has seen its “third consecutive quarterly increase in single-family home closings,” cited the Charlotte Business Journal, and despite the talk around leveling and even upturning housing markets across the country, the mortgage rate remains relatively the same.
Metrostudy, a generator and provider of real estate statistics for much of North Carolina and some of South Carolina, shows that Charlotte home closings increased by more than 100 units between the third and fourth quarter. Bill Miley, Charlotte’s manager at Metrostudy, underpins progress by stating that new-home markets are still in the shadows of fear surrounding foreclosures, poor job sectors and the credit squeeze; however, several reports show that the housing market is climbing from the wreckage of a poor economy nonetheless. Steady mortgage rates reinforce this positive upturn.
This continues to be your best time to relocate to Charlotte or invest in property throughout any number of its blossoming districts. Until April, homebuyers can still take advantage of buyer assistance credits and programs, home prices are steady and mortgage rates are holding at all time lows. With increased sales and a continually improving lending / borrowing atmosphere, mortgage rates will likely see a rise in the future. But for now, it continues to be one of the most affordable times during recent history to purchase a home in the Charlotte area.
Tags: Charlotte, charlotte home financing, charlotte mortgage rates
