Broker's Cornerby Ray Shay

The latest news on local real estate by Ray Shay, Owner/Broker Associate of Shay Realtors of REMAX Ranch and Beach - #1 in home sales in 2009, 2010, 2011 and 2012.

The jump in interest rates last month really spooked some buyers. Though it felt like a 25 percent increase in loan rates, the average rate it is still clearly below 5 percent, which is an incredibly low percentage. Some adjustable jumbo loans are still in the mid 3 percent range.

Speaking to other agents, brokers and escrow companies countywide this slow down is not in just one price point. It will be interesting to see how the housing numbers for September come out. If you have any questions, do not hesitate to call Theresa or myself. All inquiries are kept in the strictest confidence. 

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