Pennsylvania
Mortgage Rates;
The market is a bit sluggish in Pennsylvania and prices dipped again in the beginning of 2007. For buyers this means that they may not get as much as they were hoping for but for buyers, this is a great time to be house hunting. Houses are remaining longer on the market and there is a lot of inventory available. Although sales are slowing, there is still activity in the market as buyers realise that this is a good time to enter the market.
Sellers can still expect to make a decent return on their investment and homes which are priced realistically are still selling. The state economy is strong with unemployment remaining low, jobs are still being created and people feel stable in their jobs. For buyers, there is a large choice of homes available to them and these homes are very affordable. Sellers are willing to negotiate and to offer incentives to buyers. The outlook for 2007 is good and there will be increased activity as more buyers become confident that this is a good time to buy a home.
Below are examples of rates being offered.
For loans up to $417,000
30 Yr Fixed : rates from 5.75% to 6.625%
15 Yr Fixed : rates from 5.5% to 6.375%
1 Yr ARM : rates from 4.625% to 5%
3/1 ARM : rates from 5.25% to 6.375%
5/1 ARM : rates from 5.5% to 6.5%
For loans above $417,000
30 Yr Fixed Jumbo : rates from 6% to 6.125%
15 Yr Fixed Jumbo : rates from 5.75% to 6.625%
1 Yr ARM Jumbo :rates from 4.625% to 6.5%
3/1 ARM Jumbo : rates from 5.25% to 6.875%
5/1 ARM Jumbo : rates from 5.5% to 6.625%
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Looking for a mortgage in one of Pennsylvania's major cities? Click any of the cities below for more mortgage information.
Major Pennsylvania
Cities;
Bradford
Easton
Indiana
Lewistown
Philadelphia
Pittsburgh
Reading
Youngstown
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