September Home Sales Are Looking Up

Livermore, CA

• Mortgage applications to purchase a home in Livermore, CA rose again
• The interest rate for a 30-year fixed rate mortgage remained unchanged at 3.03
• Top real estate agents in Livermore, CA continue to see strong competition

The trends generally remain the same year over year and the weeks after Labor Day again saw strong demand for mortgage application and homebuyers looking for homes for sale in South Livermore. Total mortgage application (including refinancing) volume was up 5% for the week, according to the Mortgage Bankers Association's seasonally adjusted index.

Interest rates have not moved for the past four weeks. The average interest rate for a 30-year fixed-rate mortgage with a down payment of 20% and with conforming loan balances ($548,250 or less) remained unchanged at 3.03%

Applications for homebuyers looking to purchase a home was up 2%, however 13% lower than 1 year ago for this week. Homebuyers pulled back over the summer as prices continued to soar higher and the low supply fueled pricing. Purchase demand last week was the highest since April.

“Housing demand is strong heading into the fall, despite fast-rising home prices and low inventory. The inventory situation is improving, with more new homes under construction and more homeowners listing their home for sale,” said Joel Kan, an MBA economist.

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