Interest Rates Versus Real Estate Inventory in Fort Lauderdale Fl

Interest Rates have reached a historical 60 year low and that is one of the factors in the low inventory of homes and condos in Fort Lauderdale Fl and the surrounding areas.

I am working with three different buyers and all of these buyers experienced multiple offers scenarios on homes and condos they placed offers on this week.

The choices are becoming fewer for buyers. If you don’t want to be involved with a short sale or a foreclosure your choices are even less.

Foreclosures are released from the banks very slowly. I doubt that we will see the big dump of foreclosure inventory that has been predicted by  many.

It is a great time to buy with historical low rates although buyers will have fewer choices. It’s also great time to sell. If the home is in great condition and properly priced they will be a number of interested parties.

Interest rates below are courtesy of Donna Drake with BB&T.

Mortgage rates as of Thursday, September 8th for Primary Residences only

Conforming 30 Year Fixed Rate – 4.25%

Conforming 15 Year Fixed Rate – 3.375%

Jumbo 30 Year Fixed – 4.625%

Donna Drake

Branch Banking and Trust Company

Assistant Vice President

Mortgage Loan Officer, NMLS #414505

Office (954) 233-1785

Mobile (954) 647-1454

www.bbt.com/ddrake