CSREJ - July by Colorado Springs Real Estate Journal

PRSRT STD US POSTAGE PA ID PERMIT 745 COLO SPGS CO

Vol. 8 No. 11

July 25, 2016

www.csrej.com

27 Homes; 24 Builders

in the 2016 Parade of Homes This year’s Parade will showcase something for everyone in home design home, including quality craftsmanship, energy efficiency and the ability to personalize your home,” said Tim Siebert, owner of N.E.S., Inc. and the 2016 CSHBA President.” After seeing the fantastic homes in this year’s Parade, I believe you will agree that there has never been a better time to capitalize on affordable prices, historically low interest rates,

GALIANT HOMES

and great location options in tremendous neighborhoods throughout the region.” The Parade of Homes will be open 10 AM–6 PM Wednesdays through Sundays, August 3-21, and closed

Mortgage rates stay near record low Mortgage rates barely budged this week, staying near record lows. The 30-year fixed-rate mortgage averaged 3.42 percent this week, just slightly above its all-time record low of 3.31 percent set in November of 2012. "We describe the last few weeks as A Tale of Two Rates,” says Sean Becketti, Freddie Mac’s chief economist. “Immediately following the Brexit vote, U.S. Treasury yields plummeted to all-time lows. This week, markets stabilized and the 10-year Treasury yield rebounded

sharply. In contrast, the 30year mortgage rate declined after the Brexit vote, but only by half as much as the 10year Treasury yield. This pattern suggests that mortgage rates are likely to remain low throughout the summer." Freddie Mac reports the following national averages with mortgage rates for the week ending July 14: • 30-year fixed-rate mortgages: averaged 3.42 percent, with an average 0.5 point, rising slightly from last week’s 3.41 percent. A year ago, 30-year rates

averaged 4.09 percent. • 15-year fixed-rate mortgages: averaged 2.72 percent, with an average 0.5 point, dropping from last week’s 2.74 percent. A year ago, 15-year rates averaged 3.25 percent. • 5-year hybrid adjustablerate mortgages: averaged 2.76 percent, with an average 0.4 point, rising from last week’s 2.68 percent average. Last year at this time, 5-year ARMs averaged 2.96 percent. © Copyright National Association of Realtors. Reprinted with permission.

on Mondays and Tuesdays. Homes range from tiny, at just 256 square feet, to magnificent, to almost 10,000 square feet. Prices range from under $100,000 to more than $1,500,000.

Highest (avg./mo.)

Lowest (avg./mo.)

Connecticut: $404 Massachusetts: $346 Rhode Island: $338 Vermont: $332 Georgia: $328 North Dakota: $328 Maine: $327 New Hampshire: $325 Indiana: $325 Mississippi: $323

Iowa: $270 Montana: $265 Idaho: $262 California: $251 New Mexico: $249 Arizona: $247 Oregon: $238 Colorado: $235 District of Columbia: $219 Washington: $218

The Innovative Group Client Appreciation

Jay Gupta's June Housing Stats

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Honest & Ethical Service from People You Know. 5333 North Union Blvd. Suite 100, Colorado Springs, CO 80918

HELPFUL TIP: Check the license status of your mortgage broker at the Colorado Division of Real Estate’s website. Regulated by the Colorado Division of Real Estate, Corp NMLS #3113.

Branch Manager

Debbie Havens

Sales Manager

See Parade of Home | 9

The month of July tends to produce the highest monthly energy bills for consumers, according to the personal finance website WalletHub. WalletHub found the following states have the highest residential energy costs:

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Chad Denny