Lowest Interest Rates in over 60 Years
The average rate on a 30-year fixed loan was 4.22% last week and 4.12% this week, according to Freddie Mac, near the lowest level in more than 60 years.
According to the Multiple Listing Service (MLS) 9,314 single-family homes were sold in July, 2011, 12.68% more than the same month of the prior year. In addition, the average sales price for Michigan homes was $113,402, 2.97% more than July, 2010, making the average selling price over $105,000 for three months in a row.
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