Sullivan County Real Estate

Mortgage Rates to 4.2% By Year End?

Today on Yahoo!Finance there's an article referencing a report by Bank of American-Merrill Lynch economists predicting that mortgage rates could fall to 4.2% by the end of the year. a significant drop from the current 4.85% to 5.1% range. Taken together with the continuing drop in prices and the $8,000 tax credit for first time home buyers, this could create a "perfect storm" for buyers as the year progresses. The big question mark, though, is how much farther prices have to fall in this region, particular in and around NYC.

NYRI is Dead

The Times Herald Record just posted a story on it's website that New York Regional Interconnect has withdrawn it's application before the NY Public Service Commission for the massive power line project that was slated to run through western Sullivan County.