As Western North Carolina begin to reopen, in Maggie Valley and Waynesville home purchases are slowly beginning to regain steam. The latest data from the Mortgage Bankers Association shows that home purchases, while down compared to last year at this time, are up 11% week-over-week. Mortgage lenders, Real Estate Agents and Closing Attorneys are relying heavily on technological enhancements to allow customers to go through the home buying process digitally.
Starting this week, the Federal Reserve started buying mortgage backed securities at a lower price point, which allowed many lenders to reduce interest rates for some borrowers. Keep in mind, your interest rate is determined by a lot of factors including type of loan, credit score and where you live.
Haywood County NC refinance activity has slowed, however is still a whopping 200% higher than a year ago at this time, according to the MBA.
Even though Maggie Valley and Waynesville NC home sales are down some mostly because of the Covid-19 but also because of low inventory of homes for sale. With the opening of businesses, hotels and seasonal rental and all-time low interest rates the remainder of the season in Western North Carolina should be strong.
Maggie Valley, Clyde, Lake Junaluska, Fines Creek and Canton average home prices are north of $200,000 now and expected to climb for the remainder of this year.
Search for Homes in Maggie Valley and Waynesville NC area Now. Click Here