The Home Buyer Tax Credit expired last week as Pending Home Sales were up in March 5.3%. That was up 21% from a year ago. Mortgage applications were also up last week 4% as the Government Home Buyer Tax Credit program ended. Purchase applications were up 13% and Refi’s were down 2.1%. What was really surprising was that FHA loans accounted for 50% of all purchase transactions which is a huge number! Mortgage rates dipped down this week as the stock markets went down. The 30 Year Fixed Rate National Average went down to 5.02% from last week’s 5.08% and the 15 Year Fixed went down to 4.34% from last week’s 4.38%.

US Non Farm Payroll Jobs Reported that there was 290,000 jobs that was added in April which was the biggest increase since March of 2006 however, the Unemployment Rate went up slightly to 9.9% which could be contributed to people that completely dropping out of the jobs market. This jobs number was better than expected.

The $64,000 question is will this selling carry over to next week? One reason it very well could will be problems persisting in European Countries. It seems as though a Global Recovery is out of the question for now.

About the Me: The above Real Estate information was provided by Greg Afarian, l can be reached via email or send me a message on Twiter Have a home to sell on the NorthShore in Mass? I’ll help you with my social media skills for a quick transaction to help save you time and money. I service the following towns in Boston and the Greater Boston Area. Andover, North Andover, Lawrence, Methuen, Haverhill, Boxford, Bradford, Dracut, Reading, North Reading, and beyond.

US Mortgage and News Update presented by Greg Afarian of Virtual Media Realty in North Andover MA.