In a recent article in the St Louis Post-Dispatch they pointed out that the interest rates for homes and condos hit the the lowest point for 2017.
They are also approaching historic all time lows.
It should be noted that interest rates can vary depending on many factors such as:
Amount of down payments
The length of the loan
Please check with your lender for exact details on those loans which are available today
As a result of these low interest rates the real estate market in the St Louis area continues to grow. In Aug there was an increase of 5% sales volume over last last year and home prices have continued to improve.
The media is talking of shortage of inventory but the number of houses on the market has gone down because people are buying them when priced correctly.
Market trends can change from one community to another and you can contact us or your agents to review the trends with you in your specific location.