Home Prices Expected to Continue to Rise: National Inventory at Record Lows - Home Loan Experts with Great Mortgage Rates Serving Colorado, Florida, Illinois, Indiana, Michigan, Minnesota, Tennessee and Wisconsin

Tuesday, May 14, 2013

Home Prices Expected to Continue to Rise: National Inventory at Record Lows

As the weather gets warmer, so does the housing market. Home buying is in full swing and houses are flying off the market. How is this surge of home buying affecting borrowers in Illinois, Indiana, Michigan, Minnesota and Wisconsin?

Across the country, housing inventory is low. Since demand is high, current inventory is depleting too fast for supply to keep up with current demands. In fact, based on the chart below, national inventory is at an all-time low, when calculated as a percentage of the working population.

So, what does this mean for current homeowners and prospective buyers? – Housing prices will continue to rise.

Mortgage interest rates are tending up after sold economic reports released over the last few days. There are a few key reports that are to be released later this week that could dramatically impact the direction of the market. Stay current on market trends to be sure you are locking in at the best time.

United Home Loans is licensed to provide mortgage pre-approvals and originate mortgages in Illinois, Indiana, Michigan, Minnesota and Wisconsin. Please call or e-mail us with any questions you may have at (708) 531-8388.


Illinois Mortgage Rates
IL 30 Year Fixed mortgage as of May 14, 2013 3.500%/3.519 APR
IL 15 Year Fixed mortgage as of May 14, 2013 2.625%/2.694 APR

Please click this link for APR assumptions and more IL mortgage rates


Indiana Mortgage Rates
IN 30 Year Fixed mortgage as of May 14, 2013 3.500%/3.519APR
IN 15 Year Fixed mortgage as of May 14, 2013 2.625%/2.694 APR

Please click this link for APR assumptions and more IL mortgage rates


Michigan Mortgage Rates
MI 30 Year Fixed mortgage as of May 14, 2013 3.500%/3.519 APR
MI 15 Year Fixed mortgage as of May 14, 2013 2.625%/2.694 APR

Please click this link for APR assumptions and more MI mortgage rates

Minnesota Mortgage Rates
MN 30 Year Fixed mortgage as of May 14, 2013 3.500%/3.519 APR
MN 15 Year Fixed mortgage as of May 14, 2013 2.625%/2.694 APR

Please click this link for APR assumptions and more MN mortgage rates

Wisconsin Mortgage Rates
WI 30 Year Fixed mortgage as of May 14, 2013 3.500%/3.519APR
WI 15 Year Fixed mortgage as of May 14, 2013 2.625%/2.694 APR

Please click this link for APR assumptions and more WI mortgage rates


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