The 30-year fixed-rate mortgage hit an all-time low, averaging 3.40% as of September 27, 2012, this according to the latest Freddie Mac’s Primary Mortgage Market Survey. The 30-year fixed-rate mortgage is the preferred choice of would be homebuyers.
The latest housing statistics of the Maryland Association of Realtors (MAR) show that home sales and home prices improved in August this year compared to the previous year. MAR reported that 5,230 home units were sold in Maryland last month, a 9.6% increase compared to the 4,772 units sold in August 2011.
It is more affordable to buy a home than rent in America’s 100 biggest metropolitan areas, this according to Trulia’s Summer 2012 Rent vs. Buy Report. According to the Trulia report, for the period of June 1, 2012 and August 31, 2012 nationwide, homeownership was 45% cheaper than renting.
While the nationwide foreclosure filings decreased in August 2012 compared to the previous year, Maryland’s foreclosure filings rose significantly, this according to RealtyTrac’s latest U.S. Foreclosure Market Report. RealtyTrac reported that in August this year, Maryland’s foreclosure filings rose by 54% compared to the previous year.
According to Trulia’s Price Monitor, asking prices of homes in August this year increased by 2.3% compared to the previous year. This was the biggest year-over-year increase since the U.S. recession, Trulia reported. Not including foreclosures, Trulia reported that asking prices increased nationwide by 3.8% compared to the previous year.