Today 45° | 73°

Good Monday afternoon. It looks like were off to another fantastic week in beautiful Charleston, South Carolina. Mostly sunny/partly cloudy skies with temperatures in the mid 70’s all week.

Showing activity has picked up in the past couple weeks as buyers take advantage of low interest rates, bargain priced properties and sellers more willing to deal. Barring any major changes in the financial world we expect activity to steadily increase through the spring.

Mortgage rates jumped a bit last week. The 30-year fixed-rate rose ½ point from 5% to 5.5% and the 15-year fixed-rate went from 4.5% to 4.75%.

Program   Rate  
30 Year Conforming Fixed Rate      5.500%  
15 Year Conforming Fixed Rate   4.750%  
FHA   5.500%  
VA   5.500%  
SC State Housing   6.625%  

 

 

 



For more information about mortgage rates and special programs call Tara Derouen (843-974-6223) or Beth Greenlee (843-974-6012) at Carolina One Mortgage.

The big news affecting real estate this week is the continuing debate over the American Recovery and Reinvestment Act of 2009. Senate legislators unanimously approved a proposal that would allow a tax credit for homebuyers of 10 percent of the value of new or existing residences, up to a $15,000 limit. Current law provides for a $7,500 tax break but only for first-time homebuyers. Keep in mind, at this point the $15,000 tax credit is still a proposal, it must clear the House and be signed by the President before taking affect.   

Call or email me if you know anyone who is thinking of buying or selling a home, I'd be happy to assist them - 843-224-5747.

If you are planning a move this spring or summer visit  www.CharlestonHomeSeeker.com to get all the new listings sent to you by email.

Wondering how your homes value has fared through housing turmiol? Visit www.CharlestonHomeValues.com - just log on, provide some details about your home and receive your FREE Home Market Evaluation direct to your inbox!