For the sixth consecutive week, mortgage rates were on a downward spiral as the 30-year fixed-rate mortgage hovers near its 2015-low of 3.59 percent, Freddie Mac reports. “The 30-year mortgage rate dropped another 7 basis points this week to 3.65 percent,” says Sean Becketti, Freddie Mac’s chief economist. “This week’s drop leaves the mortgage rate just 6 basis points above last year’s low of 3.59 percent. In a falling rate environment, mortgage rates often adjust more slowly than capital market rates, and the early-2016 flight-to-quality has run true to form. The 30-year mortgage rate has dropped 36 basis points since the start of the year, while the yield on the 10-year Treasury has dropped 59 basis points over the same period. If Treasury yields were…
1 Tredyffrin-Easttown School District Tredyffrin Township, PA 2 Eanes Independent School District Austin, TX 3 Jericho Union Free School District Oyster Bay Town, NY 4 New Trier Township High School District No. 203 New Trier Township, IL 5 Princeton Public Schools Princeton, NJ 6 Highland Park Independent School District (Dallas) Northeast Dallas Township, TX
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West Palm Beach-Boca Raton-Boynton Beach, FL
Pop.: 1,372,171 Avg. Home Price: $260,846 Pop Growth (’10-’13): 3.6% Jobs Growth (annual): 2.7% Unemployment: 6.0% Annual price growth: 11% Over (+) or under (-) priced by: 4% Home Price/Rent Ratio: 17
MIAMI (AP) — A new report says it's more affordable to buy a home than rent a place in South Florida. The report released last week by research firm RealtyTrac ranked Miami-Dade and Broward counties among the nation's top areas where it's more affordable to buy a three-bedroom home than rent a three-bedroom dwelling. The report says that rents have skyrocketed in South Florida while interest rates remain low for homebuyers. Other counties where it was more affordable to buy than rent included the counties that contain Detroit, Las Vegas and San Bernardino, California.