WAMU 88.5 : News

Filed Under:

Low Mortgage Rates Prompt D.C. Area Home Sales

Play associated audio
A group of row houses in Washington, D.C.
http://www.flickr.com/photos/jsprig/5106526900/
A group of row houses in Washington, D.C.

For more than a year, Sally Swift was renting a house in Silver Spring. But last month, she decided to buy it.

"I suspect we would have purchased no matter what the mortgage rate was, but the idea that it was as low, has it made it clear it was a really good time to buy the house," she says.

Swift now lives in her own two-bedroom house with her husband and three kids. And it's not just Swift; many people in the region are closing the deal.

Mortgage rates are at a record low, dipping down to 3.62 percent for a fixed 30-year mortgage. New numbers show that buyers in the region are taking advantage of this incentive. In the mid-Atlantic region, the home sales are up by almost 14 percent compared to the same time last year. In the District alone, the sales are up by about 5 percent.

President of Greater Capital Area Association of Realtors Bonnie Casper says confidence is back in the market.

"A lot of people are now beginning to see they have stability, and are being able to purchase homes and the transactions are really occurring now," says Casper.

Houses are being sold quickly. According to Casper, homes are on sale for a far shorter period of time this year compared to last.

NPR

Poetry Behind Bars: The Lines That Save Lives — Sometimes Literally

Words Unlocked, a poetry contest for juveniles in corrections, has drawn more than 1,000 entries. Its judge, Jimmy Santiago Baca, says it was a poetry book that helped him survive his own prison term.
NPR

When It Came To Food, Neanderthals Weren't Exactly Picky Eaters

During the Ice Age, it seems Neanderthals tended to chow down on whatever was most readily available. Early humans, on the other hand, maintained a consistent diet regardless of environmental changes.
NPR

Trump And Cruz Campaign At California GOP Convention

The remaining Republican presidential candidates have been making their case at the party's state convention. Capital Public Radio's Ben Adler explains the divisions on display among Republicans.
NPR

'The Guardian' Launches New Series Examining Online Abuse

A video was released this week where female sports journalists were read abusive online comments to their face. It's an issue that reaches far beyond that group, and The Guardian is taking it on in a series called "The Web We Want." NPR's Audie Cornish speaks with series editor Becky Gardiner and writer Nesrine Malik, who receives a lot of online abuse.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.