Interest rates rise

On August 22nd Freddie Mac released the results of their weekly Primary Mortgage Market Survey, reporting an increase in rates. The survey showed that the 30 year fixed rate mortgages averaged 4.58 percent. This was up from last week when the average was 4.4 percent and also up from one year ago when the average for a 30 fixed loan was 3.66 percent. Mortgage rates followed the upward trend of bond yields as the market anticipated the release on August 21st of the minutes of the Federal Open Market Committee meeting that was held at the end of July. Home sales for July, which were also released this week were very strong, which would help to drive up interest rates. National figures for home sales were up 6.5 percent and Austin home sales were up an incredible 35 percent from last year at this time. Although rates have risen sharply since May, the rates are still low in the broader historical context and affordability remains high.

July Home Sales in Austin

The Austin Board of Realtors® released home sales data for July, 2013 on Tues August 20th announcing continued growth in housing market as part of a larger economic recovery in Austin and Central Texas. During the month of July 3,135 homes sold in the Austin area market at a median price of $228,250. This is a 35 percent increase in the number of homes sold from July of the previous year and an 8 percent increase in the median sale price. On a month to month basis; the number of homes sold rose in July compared to June sales, however the median price declined about 3 percent from the previous month.

Rosedale

38th Street to the south, Shoal Creek to the west, North Loop and Hancock Drive to the north, and Lamar Boulevard to the east.

Clarksville

Clarksville is area from Mopac to West Lynn bounded by Waterson on the North and Tenth Street on the South, but casually Clarksville usually means a larger area between mopac and Lamar Blvd, and from Townlake to the northern boundry along Waterston Street and 12th Street.

Zilker

Zilker is a desirable neighborhood in South Austin between Zilker Park and the South Lamar Blvd.
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Hyde Park

Hyde Park is a lively, but quiet community in Central Austin just north of the University of Texas Campus. There are ample shopping and dining opportunities in the neighborhood and the streets are are quiet, without much traffic.

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Crestview

Crestview is the area of north central Austin bounded by Anderson Lane to the north, Burnet Road to the west Justin Lane to the south and Lamar Boulevard to the East. This is a great, centrally located neighborhood with local shops, conveniently located to major employers and Downtown.

Shady Hollow

Shady Hollow is a quiet neighborhood in South Austin off of Brodie Lane.
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