My New Blog

Hi everyone,

With the goverment buyout of Fannie Mae and Freddie Mac loan applications were double on September 8th, 2008 from that date in 2007. The 30 year fixed rate dropped to an average of 6.04 - on a 200,000 loan that is about a $500 savings a year.

Rates are expected to drop again later this week thanks to goverment money funding. On the long term, prices are expected to stabilize as buyers pick up in the market.

The OBX got a nice dose of abbout an inch of rain today - mush needed. The water temperature remains in the upper 70's and some of our most beautiful weather is coming. This is the local's favorite time of year!

Have a wonderful evening,

Carol