Alaska
Mortgage Rates;
The housing market in Alaska remains robust and although price increases and the pace of building is slowing down, its not looking like the domesday scenario of the 1980s. The market could not sustain the price increases of recent years and it is experiencing a correction at the moment.
But the outlook is far from bleak – interest rates are low, employment is holding up and there is still demand for affordable housing. Sellers will have to be more realistic about their asking prices. Buyers have much more choice and there are definitely bargains to be had.
Home sales and building permit activity has increased since the middle of the year and home prices continue to appreciate, outstripping the national average by 3%.
Sellers may need to consider adding extra value to their homes to ensure a sale and buyers need to negotiate hard and take a good look at the choice on offer.
Below are examples of rates currently being offered.
For loans up to $417,000
30 Yr Fixed: rates from 5.375% to 6.5%
15 Yr Fixed : rates from 5% to 6.25%
1 yr ARM : rates from 4.375% to 6.75%
3/1 ARM : rates from 5.125% to 6.375%
5/1 ARM : rates from 5.375% to 6.5%
For loans above $417,000
30 Yr Fixed Jumbo : rates from 6% to 6.625%
15 Yr Fixed Jumbo : rates from 5.625% to 6.625%
1 Yr ARM Jumbo : rates from 4.25% to 6.5%
3/1 ARM Jumbo : rates from 5.25% to 6.625%
5/1 ARM Jumbo : rates from 5.375% to 6.625%
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Looking for a mortgage in one of Alaska's major cities? Click any of the cities below for more mortgage information.
Major Alaska
Cities;
Anchorage
Juneau
Fairbanks
Kodiak
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