Atlanta Real Estate Market and Financing Update
The following is a guest blog from Jeffrey Heckman and Joanne Rotella with Shelter Mortgage Company and does not necessarily reflect the views of GeorgiaMoves.com
1. Mortgage rates pushed lower last week and the main reason was that investors in Japan and China bought US bonds. They did this because Japanese and Chinese currencies have recently weakened versus the dollar making the safety and security of US bonds attractive to investors in both countries.
2. January New Home Sales unexpectedly shot up 10% from December to an annual rate of 468k units. This was the highest level since July 2008. January Pending Home Sales also posted a slight increase.
3. Per FICO, the average credit score in the US is down to 634. At first glance, this is a