Fixed rate hits a new low, stitching an apartment building back into a mansion, prices on the rise again, and more in today's industry news round-up!
Freddie: Fixed Rate Hits New Low, Trend Continues l Appraisal Institute
For the third consecutive week, rates on fixed mortgages fell to all-time record lows, according to Freddie Mac’s weekly Primary Mortgage Market Survey released May 17. The 30-year fixed-rate mortgage fell 0.04 percentage points from the previous week to 3.79 percent (down from 4.61 percent a year ago).
Pieces of a Mansion Puzzle on Block l Wall Street Journal
The dream was to eventually unite all of the nine apartments in the building at 828 Fifth Ave., recreating the original single-family mansion with its large public rooms restored.
Termites: The Silent Invaders l Realtor.org
These wood-chomping insects can cause tens of thousands of dollars in damage and render properties unsellable. Here’s how to identify and prevent termite infestation.
April existing-home sales up, prices rise again l The Title Report
Existing-home sales rose in April and remain above a year ago, while home prices continued to rise, according to the National Association of Realtors (NAR). The improvements in sales and prices were broad based across all regions.