Low Mortgage Rates Prompt D.C. Area Home Sales | WAMU 88.5 - American University Radio

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

U.S. Officials Believe North Korea Was Behind Sony Hack

The recent attack on Sony Pictures' computer network that resulted in a flood of confidential data has its origins in North Korea, U.S. intelligence officials say.
NPR

Japan's Butter Shortage Whips Its Cake Makers Into A Frenzy

For the Japanese, Christmastime means sponge cake. But a nationwide butter shortage has lead to mandatory butter rationing, forcing cake bakers to seek out substitutes.
NPR

TSA Administrator John Pistole To Leave At Month's End

John Pistole is leaving the Transportation Security Administration after 4 and a half years as its chief. He will become president of a Christian university in Indiana.
NPR

With Sony Hack, Nation State Attacks Go From Quiet To Overt

U.S. intelligence officials claim that North Korea was centrally involved in the hack against Sony. That's major news in the world of cyberwarfare, where nation states typically make covert attacks.

Leave a Comment

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