Indiana
Mortgage Rates;
The Indianapolis area seems to be bucking the national downward trend and is looking very strong. Sellers are having to be more realistic about their home values and be more patient and accept the fact that price growth is slowing down. The market is holding up because unemployment is low, the stock market is performing very strongly and mortgage rates are low.
This is a great time to buy as there’s a lot of choice of good value properties and sellers are adding on extras to make their homes more attractive. Incentives include money, furniture, new roofs and flat-screen TVs.It’s a buyers market so make sellers are driving very hard bargains.
Below is an example of mortgage rates.
For loans up to $417,000
30 Yr Fixed : rates from 5.25% to 6.25%
15 yr Fixed : rates from 5.25% to 6.375%
1 Yr ARM : rates from 4.125% to 6.75%
3/1 ARM : rates from 5.125% to 6.25%
5/1 ARM : rates from 5.25% to 6.5%
For loans above $417,000
30 Yr Jumbo : rates from 5.875% to 6.5%
15 Yr Jumbo : rates from 5.625% to 6.25%
1 Yr ARM Jumbo : rates from 4.125% to 6.5%
3/1 ARM Jumbo : rates from 5.125% to 6.875%
5/1 ARM Jumbo : rates from 5.5% to 5.875%
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Major Indiana
Cities;
Bloomington
Evansville
Fort Wayne
Indianapolis
Lafayette
South Bend
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