Mortgage Rates Fall to 2017 Lows*
Mortgage rates declined last week to their lowest level in 2017, a move that could help fuel buyer demand at a time when the supply of homes already is under strain.
The rate for a 30-year mortgage fell to 3.88% in the week ended Thursday, down from a week earlier when it averaged 3.9%. That was well above a year ago, when it averaged 3.48%.
Economists had widely predicted mortgage rates to rise to around 4.5% by the end of this year. That looks increasingly unlikely. Dimming prospects for the Republican legislative agenda, especially tax reform, have helped keep a ceiling on rates.
Saturday, June 17 | 9 a.m. to 2 p.m. | Tarrant County College - Trinity River, 300 Trinity Campus Circle
Attendance is free and open to the public.
9 to 10 a.m. Registration & Check-In
10 a.m. to 2 p.m. Workshops
Fort Worth home sales were down 2.4 percent to 1,052 homes in April 2017. The median price for Fort Worth homes increased 14.6 percent year-over-year to $205,000 in May 2017.
Fort Worth’s monthly housing inventory was 1.8 months in April 2017, 0.1 months more than the year prior. The Real Estate Center at Texas A&M University cites that 6.5 months of inventory represents a market in which supply and demand for homes is balanced.
Homes spent an average of 29 days on the market in April 2017, 13 days less than April 2016. Additionally, active listings increased 2.7 percent to 1,800 listings during the same time frame.
Wednesday, May 10 | 11:30 a.m. to 1 p.m. | Ridglea Country Club
Hear the latest on the new $175 million master plan to redevelop the Fort Worth Stockyards! Laura Voltmann, Senior Planner, will talk about the project, which encompasses 70 acres and about 800,000 square feet of new space. A new hotel, retail, office space and residential development areas are all part of the proposed plan. We will also present the 2017 Neighborhood Revitalization Awards to two incredible properties.
The Greater Fort Worth Association of REALTORS® gathered at the Ridglea Country Club on Wednesday for a celebration of member recognition. The GFWAR Awards Luncheon is held annually to commemorate the outstanding members of the association and their accomplishments both professionally and within the community.
The REALTOR® of the Year Award was given to Gaye Reed. Reed began her career as a REALTOR® in 2002 with Coldwell Banker Tanglewood. In her second year, she earned entry into the Coldwell Banker International Sterling Society, which is the top five percent of Coldwell Banker agents. She has also achieved Coldwell Banker International Diamond Society and President’s Circle, the top three and two percent of agents. Reed has served on several GFWAR committees, and chaired the Governmental Affairs committee in 2015. She also facilitates the full day historic homes course. From 2008 to 2016, she served as a City of Fort Worth Zoning Commissioner and currently serves on the Fort Worth Library Advisory Board and the Board of Directors for Historic Fort Worth.