What Inflation?

Interest Rates Are Jumping

By SaintGeorgeHomes.net

Rates on conforming 30-year loans (under $417,000) jumped dramatically in just a few days, ending the week at an average of 5.27% according to Bankrate.com. That’s still not bad by historic standards, but it’s a jump from the levels seen just a few weeks ago, from around 4.75% or below.

The reason for this is not hard to understand. Rising government debts, and a strong belife that an economic recovery is under way, are pushing up long-term interest rates on government debt. The yield on the 10-Year Treasury, which was just around 2% near the end of last year, swelled to 3.67% late last week before settling back a bit…that in turn, pushes up rates on other long-term loans.

For those thinking about buying a new home: Be aware this rate hike — to 5.25%, from 4.75% recently — can add quite a bit to your expenses. It will cost an extra $50 a month for someone buying a typical $200,000 residence with an 80% loan. Rates still look pretty reasonable, from a historical standpoint, but now there’s an extra level of uncertainty in the process. Who knows where they will end up by the time you come to sign?

All of that being said… its 6/06/09…I keep these live links posted for the different search criteria that I receive the most requests for.

• Southern Utah Foreclosures
• Southern Utah Adult Communities
• Southern Utah Golf Homes
• Washington City Utah Homes & Condos
• Santa Clara Utah Homes & Condos
• Southern Utah Horse Property
• Washington County Board Of Realtors Hot Sheet

This last handy little link will pull you into The Washington Country Board of Realtors MLS system. From there you can see the newest MLS listings on the WCBR MLS system as well as all price reductions…Knowledge is Power!

As of today June 6, 2009 there are currently on the Washington County Board of Realtors MLS system…

• 82 Active Southern Utah Foreclosures in Saint George Utah on the WCBR MLS system
• 170 Closed Southern Utah Single Family Homes & Condo’s in St George Utah, on MLS from 5/6/09 thru 6/6/09.
• 1,551 Active Single Family Homes & Condo’s in the Greater Saint George area of Southern Utah on WCBR MLS
• 290 Southern Utah Single Family Homes & Condos in the Greater Saint George area currently under contract or “pending”

In any event its off to Twitter…I have few Twitter names, and here are two: StGeorgeHomes or EquityStGeorge. I post these same stats there if you would like to get…”Just The Fact’s” Till Tomorrow. Saint George Homes.