4/13/2005

Prices Still Offering Above Average Returns

The national median price of existing homes is expected to grow 6.3 percent this year, according to the National Association of Realtors. The sale of existing homes will slow by 2.4 percent, second to last year's record 6.78 million sales. The supply of homes remains tight, and that imbalance puts pressure on home prices still. The CPI may rise 3 percent this year, more than its normal rate of inflation, but home prices are still expected to experience above average returns in 2005. As for some time now, interest rates are again projected to rise to 6.8 percent by the end of the year. So what does a .8 percent increase mean to your monthly payment? It could mean $141 more in principal and interest for the same $300,000 property with the same loan amount. Click here for more.

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