The last few months of 2005 marked the first time since mid-2004 that the fixed-rate mortgage was above 6 percent on a sustained basis and the adjustable-rate mortgage was above 5 percent for three months in a row.
More Quotes from Vince Malta:
Sales fell last month compared with December 2004's record-setting pace, prompted by consumers' concerns about rising interest rates.Vince Malta
The level of sales activity remained below the record-setting levels that occurred over the last two years, but the pace of sales appears to be picking up. Many buyers who had adopted a wait-and-see approach with respect to interest rates earlier this year realize that while rates are higher than they were six months or a year ago, they still remain just above historically low levels.
Vince Malta
The California housing market continues to experience year-over-year double-digit price appreciation, which is consistent with our expectation that the statewide median for 2005 will increase by 16 percent over last year.
Vince Malta
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