Case-Shiller: Denver home prices up 4.1%

March marked the 5th consecutive month of year-over-year rising home prices in the Denver area, according to the S&P/Case-Shiller home price index released yesterday. Local home prices rose an average of 4.1%. In November, the 12-month change was 0.5%; 1.2% in December; 2.6% in January; and 3.6% in March. Economist Patty Silverstein said that the Case-Shiller report shows that “here in Denver, the housing recovery is well under way. There is something to be said about our stability, compared with the ups and downs of other cities over the last several years.” Read full article:
http://insiderealestatenews.com/2010/05/case-shiller-denver-home-prices-up-4-1/

Post-Tax Credit Buyers May Save Money

Missing the tax credit deadline might have seemed like a big mistake to some home buyers, but waiting could have been the smartest thing to do.

Interest rates have fallen so dramatically since April 30th that the typical purchaser of a $350,000 home, financed with a $280,000 mortgage, would have saved a bundle by waiting until May.

At April’s average rate of 5.34 percent, a home buyer would have locked in a 30-year fixed rate loan with a monthly payment of $1,561.82.

The same borrower could have snagged a 30-year fixed rate loan at a rate of 4.625 percent in May and paid $1,439.59 per month.

That’s a $1,467 annual savings. Over 30 years, it’s a $44,003 savings, dwarfing the tax credit.

Source: Informa Research Services (05/26/2010)