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At Home Quarterly: Marketplace

 IBJ Staff
June 23, 2012
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Mortgages

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Looking ahead
ThorupMortgage rates continue to be at or near record lows based upon information provided by Freddie Mac's weekly survey of mortgage rates. The rate on a 30-year fixed mortgage has recently averaged near 3.75 percent and the 15-year fixed slightly below 3 percent.

Global market concerns over the debt situation in Europe and a slowdown in the economic growth in China has led to a continued decline in long-term Treasury bond yields, which directly affect the pricing of mortgages. Also affecting rates is the slowing of economic growth of the United States in the first quarter.

With all of this, the Federal Reserve Board's Federal Open Market Committee is not expected to make significant changes in its interest-rate policy to keep rates low until the end of 2014.

Freddie Mac now projects that the 30-year fixed rate will rise slightly, to 4.2 percent, by the end of 2012 and continue a slow rise to 4.8 percent by the end of 2013.•

 

Housing Sales

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March 1 - May 31

A strong increase in sales from March through May reveals that the uptick in the prior quarter wasn't due solely to buyers kicking tires during the unseasonably warm weather, said F.C. Tucker Co. President Jim Litten.

The most recent period also was the first in years when the inventory of houses for sale fell below six months' worth, suggesting the pendulum is swinging toward a seller's market due to increased optimism and low mortgage rates.

Click here for a more detailed table of recent housing sales activity.•

 

Demographics

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Bachelor's degree or higher in 2010
A "T" of bachelor's degree concentrations is developing locally. The shape includes townships north of 96th Street, then south through Washington and Center townships as young and empty-nest professionals move downtown, said Drew Klacik, an analyst at the Indiana University Public Policy Institute. Brownsburg in northeastern Hendricks County also is attracting well-educated residents.•

 

What you can buy

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Neighborhood profile

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  1. I never thought I'd see the day when a Republican Mayor would lead the charge in attempting to raise every tax we have to pay. Now it's income taxes and property taxes that Ballard wants to increase. And to pay for a pre-K program? Many studies have shown that pre-K offer no long-term educational benefits whatsoever. And Ballard is pitching it as a way of fighting crime? Who is he kidding? It's about government provided day care. It's a shame that we elected a Republican who has turned out to be a huge big spending, big taxing, big borrowing liberal Democrat.

  2. Why do we blame the unions? They did not create the 11 different school districts that are the root of the problem.

  3. I was just watching an AOW race from cleveland in 1997...in addition to the 65K for the race, there were more people in boats watching that race from the lake than were IndyCar fans watching the 2014 IndyCar season finale in the Fontana grandstands. Just sayin...That's some resurgence modern IndyCar has going. Almost profitable, nobody in the grandstands and TV ratings dropping 61% at some tracks in the series. Business model..."CRAZY" as said by a NASCAR track general manager. Yup, this thing is purring like a cat! Sponsors...send them your cash, pronto!!! LOL, not a chance.

  4. I'm sure Indiana is paradise for the wealthy and affluent, but what about the rest of us? Over the last 40 years, conservatives and the business elite have run this country (and state)into the ground. The pendulum will swing back as more moderate voters get tired of Reaganomics and regressive social policies. Add to that the wave of minority voters coming up in the next 10 to 15 years and things will get better. unfortunately we have to suffer through 10 more years of gerrymandered districts and dispropionate representation.

  5. Funny thing....rich people telling poor people how bad the other rich people are wanting to cut benefits/school etc and that they should vote for those rich people that just did it. Just saying..............

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