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Real Estate News Brief: New Mortgage Rate Low, Flexible Lease Terms, Demand for Outdoor Living
In this Real Estate News Brief for the week ending May 30th, 2020... mortgage rates have hit a new record low, landlords keeping tenants with shorter terms, and buyers want homes with outdoor features.
We begin with economic news from this past week, and signs of life in the housing market. New home sales were up .06% from March to April, although they were down more than 6% from April of last year. But the increase beat analyst expectations, with the biggest rise in the Northeast. Home sales were up almost 8% in that region.