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How a New Program at Lacerda Realty is Helping Buyers

The demand for purchase loans continues to rebound -- a trend that may be driven by first-time homebuyers and bargain hunters. How Lacerda Realty of Burlington NC is helping to boost the home buying process.

Burlington, NC, June 05, 2009 --( Applications for home loans declined by more than 16% last week as interest rates rose, the Mortgage Bankers Associationn said in a survey today.

As expected, the drop-off occurred in people seeking to refinance their homes because the benefits of refis are driven by interest rate trends.

The trade group said the average rate for 30-year, fixed-rate mortgages jumped from 4.81% a week earlier to 5.25% -- the biggest weekly increase since October 2008. Typical points charged, including the origination fee, decreased from 1.28% to 1.02% of the loan amount for mortgages amounting to 80% or less of the property value.

Interestingly, applications to purchase homes rose more than 4%, the mortgage bankers said. Now is the time to buy, a rate in the low 5% range still looks pretty good.

While rising rates make refinancing less attractive, demand for purchase loans continues to rebound -- a trend that may be driven by first-time homebuyers and bargain hunters.

The National Association of Realtors this week reported that pending home sales rose 6.7 percent in April as falling prices and low interest rates helped make homes more affordable.

Lacerda Realty, following the new trend in the real estate indutry, has started a new program that can help more home buyers to attain their goal. The program is called Cash Rebate to Home Buyers.

Tipically Sellers pay a commission to their real estate agent when selling their homes. The commission may be splitted with the real estate agent representing the buyer. Say a Seller pays 5% for the listing agent and a split of 3% is offered to the buyer agent. At Lacerda's 1% of the listing price goes to the Buyer.

Surely is less commission to the company, but by increasing the number of buyers the loss is offsetted. Buyers, where their lender allows, are the winners.

Evaristo Lacerda
Realtor® with Lacerda Realty

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Lacerda Realty
Evaristo Lacerda

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