The average rate for a 30-year fixed mortgage fell to about 5.5 percent after starting at 6.38 percent this month according to Bankrate Inc.
Home buyers that qualify to buy a home with a 30-year fixed home mortgage this year can expect to find many homes for sale to pick from.
When supply and demand for home become more leveled out - the housing market will rally an even better improvement for home buyers and home sellers.
My brother a Realtor in California informed by phone last week that he saw quite an improvement in his neighborhood of beach homes for sale having "Under Contract" signs on front lawns. He expected that up to 4 to 5 home buyers would be interested in the same home for sale. Which can lead to good offers and the home owner getting the price offer they desired.
In the end we both decided this was a much better picture for selling of real estate in California than the months before this phone call last week.
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