Rates Dropped Some...Good news for Buyers!

We always talk about the minimum monthly payment society we live in. For 80% of people this is really important and of course for good reasons! The good thing is mortgage applications were up this last week nationally and rates were down just a tad bit...so what does that mean? Well if you can get a great deal on a Panama City Beach Florida Condo or a Panama City Beach Florida Home you can save some monthly money! A little extra cash is always needed whether it's Panama City Real Estate or anywhere else in the country.

Take a look below at a few points that were brought out and national rates:

Daily Real Estate News August 27, 2008Mortgage Demand Up Slightly Last Week The volume of mortgage applications increased slightly last week, rising 0.5 percent on an adjusted basis to 421.6, compared with 419.3 a week earlier, according to the Mortgage Bankers Association weekly survey.On an unadjusted basis, the index decreased 0.9 percent compared to the previous week and was down 31.2 percent compared with the same week a year ago.Both refinances and purchases were up slightly. The refinance index increased 0.3 percent and the purchase index rose 0.6 percent.Interest rates declined slightly:
30-year fixed-rate mortgages decreased to 6.44 percent from 6.47 percent;
15-year fixed-rate mortgages decreased to 5.94 percent from 5.99 percent;
1-year ARMs increased to 7.15 percent from 7.07 percent.Source: Mortgage Bankers Association (08/27/2008)

For your searching convenience take a few minutes to dig around online at http://www.randbcoastalrealestate.com/ to see what property is available in and around Panama City and Panama City Beach Florida Condo's market.