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Seattle Summer Real Estate Update
June 18, 2018 /What are you up to this summer? I sincerely hope that, whatever your plans are, they involve eating good fresh food, getting out on the water, slowing down, and doing a whole lot of nothing with your favorite people. Perhaps your summer plans also involving buying a home, selling a home, or engaging in some other part of the real estate world. So, while you’re enjoying a cool beverage, here is a Seattle area real estate update. Also keep in mind that the first thing you should do is contact Pickett Street at info@pickettstreet.com or (425) 502-5397. They have the know-how and the skills to help you navigate real estate with as little stress and as much enjoyment as possible. 1. Mortgage rates increased. According to Freddie Mac, the 30-year fixed rate mortgage recently rose to 4.62%. (One year ago, this rate was 3.92%.) The 15-year fixed rate mortgage rose to 4.07%. (One year ago this rate was 3.18%.) The plus side of this is that mortgage application activity has also declined, which may mean less competition if you are looking to buy a home this summer. However, according to economist Joel Kan, “government applications increased, driven largely by increases…Read more
