Pastoral Landscape, by William Edouard Scott. Available at James R. Ross Fine Art, 56th & Illinois Streets.
Our monthly report provides a raw statistical overview of Central Indiana with market highlights of Indianapolis' Washington Township, Zionsville, Carmel, and Fishers areas. It also includes the previous month’s highest sales and the area’s most expensive current listings.
By: Jessica Lautz
Facts: The average 30-year fixed mortgage rate from Freddie Mac fell to 6.63% from 6.76% last week. At 6.63%, with a 20% down payment, the monthly mortgage payment totals $2,050 for a home priced at $400,000. With a 10% down payment, the typical payment would be $2,306.
Positive: This is the lowest rate for the 30-year fixed mortgage since December, marking seven consecutive weeks of decline. Mortgage applications showed a notable weekly increase of 20.4% as buyers capitalized on lower rates, including refinancing higher-rate mortgages. Home buyers are in a favorable position as they encounter more inventory and improved rates ahead of a Spring rush.
Negative: Will homeowners feel financially secure, even with housing equity to move?
Dr. Jessica Lautz is the Deputy Chief Economist and Vice President of Research at the National Association of REALTORS®.
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