Des Moines Real Estate - First-Time Buyer Website

Is the real estate market stabilizing? Yes. Coming back? Not so fast.

The real estate market is not yet on its way back, according to an Associated Press article:

...signs of a housing recovery are fragile at best.

The National Association of Realtors said Tuesday that home sales rose 2.4 percent to a seasonally adjusted annual pace of 4.77 million, up from a downwardly revised rate of 4.66 million in April. The results, however, missed analysts' expectations and stock markets edged lower on the news.

"While activity has stabilized, a meaningful recovery has yet to begin," wrote Paul Dales, U.S. economist with Capital Economics.

Is this bad news?  Well, if you're a seller, probably so.  But if you're reading this, you're probably a buyer, and it's certainly not bad news for you.  This means that it is still very much a buyer's market, and there's no better time to buy a home than now.

And there's another thing to bear in mind:

Interest rates for 30-year home loans, which fell to all-time lows this spring, have been edging back up. The average rate was 5.38 percent last week, according to Freddie Mac.

So if you've been thinking about buying a home, now's the time to do it.

Iowa mortgage rates remain stable at 5.50%

Iowa mortgage rates news as of today, Tuesday, June 23, 2009: Courtesy of Zillow:

Iowa mortgage rates for 30-year fixed-rate mortgages remained stable at 5.50% on Tuesday. State mortgage rates ranged from the lowest rate of 5.13% (HI) to the highest rate of 5.72% (ND). Currently, Iowa mortgage rates are equal to the national average of 5.50%.

The Iowa mortgage rate on June 23, 2009, is up 1 basis point from last week's average Iowa rate of 5.49%.

It's a hot one out there today -- stay inside and stay cool!

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My Brand New Website!

Welcome to the brand new version of my first-time homebuyer website!  Check back frequently for new posts with the latest information on the Des Moines real estate area's first-time homebuyer programs.  You can also check back daily to see what rates are doing, or to read the latest real estate news.

If you have suggestions about what you'd like to see here, questions about real estate, or just comments in general, please feel free to post them below.

Thanks for visiting!