Home sale prices are increasing, foreclosures are decreasing, and interest rates remain at near record lows. It is a good time to purchase a home and during 2012 many a potential buyer in Hampden County did just that.
The 30-year fixed-rate mortgage is averaging 3.34 percent and in
November, 2012, the 30-year rate set a record low at 3.31 percent. Nationally,
the current share of non-distressed home sales is at its highest level since
August 2008, which shows a real improvement in the housing market. While low
interest rates are encouraging more home buying, tighter lending requirements
and the lack of good paying jobs are still keeping many potential buyers out of
the market.
