Eckington By The Numbers || Weekend 06.10.23

Hello Eckington Neighbors,
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Please see below for the summary real estate numbers, the link to download the printable PDF of the "Eckington Sales Tracker & Open House Guide", and a link to see all active listings currently in our neighborhood.

This week in Eckington the active listings went from 25 to 29 with 14 closings taking place in the last 30 days.

Over the past month, average 30-year fixed rates have remained just below 7%. In such situations, it's worth considering an adjustable-rate mortgage (ARM) as an alternative. ARMs are particularly suitable when interest rates are expected to decrease in the future and if you intend to sell or refinance your home within the initial fixed-rate period of three to ten years. This option can result in lower initial payments and potential cost savings. The down payment requirements for an ARM are generally determined by factors like loan-to-value ratio, credit score, and lender guidelines. Although the down payment percentage varies based on various factors, many ARM products often require a 20% down payment. However, it's crucial to carefully evaluate your financial situation, risk tolerance, and long-term plans before opting for an ARM, as interest rates can rise after the initial period, leading to higher monthly payments.

As of Friday, June 9, 2023, the current average interest rate for a 30-year fixed mortgage is 6.92% *We source this data from Mortgage News Daily. 

- DOWNLOAD - \\ ECKINGTON SALES TRACKER & OPEN HOUSE GUIDE //  https://Eckington(roperties.com/TRACKER

- ACTIVE LISTING LINK - \\ TO ALL ACTIVE LISTED PROPERTIES IN ECKINGTON // https://EckingtonProperties.com/LiveLinkAllActive *Bright MLS has the borders incorrect. It incorrectly includes a section south of Florida in the MLS.

 - SUBSCRIBE - \\ TO HAVE TRACKER EMAILED TO YOU WEEKLY //https://EckingtonProperties.com/SUBSCRIBE 

Thank you,
John