According to the National Association of Realtors, the housing market did not get off to a great start in 2015. Existing home sales in January fell 4.9% to the lowest level in 9 months. But the median home price year over year was up 6.2%. Meanwhile the California Association of Realtors reported continued momentum with international buying activity with more than 1-in-3 international buyers being from China with mostly cash purchases. Conforming no point 30 year fixed mortgage rates average 3 7/8ths with 15 year rates closer to 3 1/8th. And now for something completely different… Did you know that the first sky written ad using an airplane was in 1922. The words “Daily Mail” were written over Epsom Downs, U.K.
For more information on a home purchase, refinance, or a reverse mortgage, visit our website at Aramco.Biz or call me at (877) 700-0942. This is Mehran Aram with today's ARAMCO Report.