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A graphic look at 30 year fixed mortgage rates since 1971

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Freddie Mac publishes this on their website. Rate tables going back to 1971. Highest year and month – July 1981 16.83% Lowest year and month – November and December 2012 3.35% Average over the past decade – just 5.6%. That’s a photo of my kitchen, looking as it did circa 1972 with it’s cocoa two-tone Hotpoint appliances, goldenrod wallpaper and nasty green linoleum. Great era for style, huh? Rates were 7.4% in the month of July 1972. Anyone fretting over a rise in rates recently needs to study history and feel a whole lot better about this week’s 4.51%… … [Read more...]

A treatise on the value of a Decatur Townhouse

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A request came my way two weeks ago: Lee, Can you help me find out what our 2 bedroom units are selling for? I am not sure where to look and I thought you may have access to what the last few sold went for..." I answered with a detailed summary report on values, with accompanying individual property reports with photos. Here’s my review: Recent 2/2/1 sales since last Summer. Decatur Townhouses at 307 Adair Street (my community) D7 asked $175000 and closed for $159250 in about 60 days July 2012. C5 asked $147500 and closed for that price in about 40 days in September 2012. 4E asked $142000 and closed in about 60 days for $140000 in October 2012. All 3 sellers paid some closing costs for each buyer. H2, our only recent 3/2/1 sale, is an interesting case to consider when positioned against the rest of Decatur's similar, "vintage" era townhouses. H2 asked $225,000 beginning August 2011. She was under contract twice and both times resulted … [Read more...]