There was a really interesting article in the Washington Post a few days ago that is definitely worth the read.The article is about the state of the bidding war in the District these days.”These days, buyers are having to come up with more and more creative ways to win the bidding wars that are breaking out again in the Washington area real estate market,”  Kathy Orton of the Post writes. “…The heightened demand is fueled by record-low mortgage rates. Freddie Mac reported on Thursday that the 30-year fixed-rate average was 3.59 percent. The 30-year rate has been below 4 percent all but one week this year. The 15-year fixed-rate average has lingered below 3 percent the past 11 weeks. These low rates make homeownership more affordable. Many would-be homeowners, spurred by the low rates, are seeking to buy, but they aren’t finding much to choose from.”Read Orton’s full article here.   It’s a real winner.

Posted on Tuesday, August 14th, 2012 at 9:26 am. Follow responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.