The national average for the 30-year fixed-rate mortgage last week was 3.86 percent, according to Freddie Mac’s most recent survey.
Freddie’s Deputy Chief Economist Len Keifer believes 2015 will be a great year, with the highest number of housing sales since 2007. The outlook for 2015 is even better, assuring almost instant equity if you purchase now.
At least that’s what a new report from Portland, Oregon-based think tank City Observatory said.
People have typically moved out to the suburbs for a few key reasons: more house for the money; the possibility of better public schools; a more family-focused environment; a yard for the dog. The tradeoff is more time spent commuting, less time at home. For many, it’s worth it. But that might be changing.
“Downtown is coming back. Just look at Charlotte, Oklahoma City and Milwaukee—classic examples of U.S. cities where the well-to-do chose to live in the suburbs,” said Bloomberg in a story on City Observatory’s report. “Now they are among the most vibrant U.S. city centers.”