Real Estate Leaders for Ann Arbor and Southeast Michigan Since 1982

Ann Arbor Area - Mortgage Rate Update

30yr fxd – 4.000% APR – 4.098%20yr fxd – 3.750% APR - 3.791%15yr fxd – 3.275% APR – 3.315%10yr fxd – 3.125% APR – 3.176%30 yr fxd FHA – 3.750% APR – 3.889%Rates are based on a mortgage of $200,000, 80% LTV, no points and a credit score of 740 or higher.Charles E. ChapellVice President MortgageUnited Bank and Trust2723 South State Street, Suite 210Ann Arbor, MI 48104Office: 734-214-2728Email: cchapell@ubat.com

Ann Arbor ranks 3rd on Kiplinger's list of cities with the highest rising home prices

Ann Arbor kicks off 2012 hitting the top of yet another national list. This time, Ann Arbor ranks third on Kiplinger's list of cities with the highest rising home prices. This is yet another indication that we around the corner for a stronger seller's market. If you are considering making a home purchase, then this may be the best year for you to contact a Realtor!Ann Arbor leads the way on "top lists" for 20113 signs that it is time to purchase a home in Ann Arbor:1) Interest Rates: 30 year fixed-rate averages remain BELOW 4 percent. With historically low interest rates, it’s a prime time to take advantage of this buyers market, while it lasts! Making a purchase now, instead of next year when we may see interest rates climb, may literally save you tens of thousands of dollars over the life of your 30 year fixed-rate loan.2) Ann Arbor shows great promise for growth and property appreciation: Realtor.com named Ann Arbor in its list of “Top Turnaround Towns.” According to Realtor.com “With prices up and inventory down, the No. 10-ranked Ann Arbor fills the last spot on the turnaround report. According to Realtor.com’s October data, median list prices increased more than 8 percent year-over-year, while total inventory is down almost 25 percent. Home sale prices are also steadily increasing, and rose 4.4 percent for the year. The supply of homes is now considered balanced, with a months’ supply at 6.8 percent, a decrease of 11 percent.”3) Home Affordability: If you are currently shopping for a home, then you are the envy of many of your home-owning friends. You have probably heard this many times “I wish I was purchasing a home right now, do you know how much I paid for my house in 2004?” According to well known consumer economist Clark Howard “Home prices are very low, creating a unique opportunity for people in a position to buy a home. The affordability index for homes is at its best level in the 41 year history of the home affordability index. That means that home buyers are getting more house for their money, and better interest rates.”

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