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Just Listed in Arlington

by ARLnow.com Sponsor March 23, 2018 at 7:30 am 0

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Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Team Cathell, “Your Orange Line Specialists.”

Buyers were intimidated this week by the snow storm and only ratified 63 contracts, but sellers stuck to their plans to sell in the prime spring market and listed 87 homes. Some 24 fresh listings sold within a week, dropping the days on market to only 26.

On Wednesday, the Federal Reserve raised short term interest rates from 1.5% to 1.75% which will effect consumer loans like credit cards and car payments. They signaled the likelihood of three more rate hikes later this year.

That news influenced the yield on the 10-yr US Treasury note, which in turn caused long term mortgage rates to rise about six basis points. The 30-yr fixed rate mortgage is now 4.4%-4.65% depending on the lender. Rates are fluctuating much more than usual this week, so be sure to shop around before locking in your rate.

The biggest news this week impacting our housing market is the deal struck Wednesday night by Congress to avert a government shutdown at midnight Friday. The deal, if passed by both houses and signed by Pres. Trump, would raise military wages by 2.4% and federal employee’s wages by 1.9%. The budget would fund the government through Sept. 30.

Click to see all the fresh new inventory in MRIS and call Team Cathell (703-975-2500) when you find a home you like.

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