March Madness continues and the real estate market is no exception. Mortgage rates rose this week, after an upbeat economic report caused U.S. Treasury yields to increase. Rates on 30-year fixed-rate mortgages averaged 3.92% for the week ending March 15, up from 3.88% last week on conforming mortgage rates. The average rate a year ago was 4.76%. It has been below 4% for 15 weeks in a row. Optimism was echoed by most real estate colleagues at our recent at our national sales conference in New Orleans and at our 2011 Awards Gala in Santa Monica.
This week in Hancock Park, 10 houses went into escrow and 7 new homes came on the market. While financial and real estate markets were bustling, local students and faculty at Marlborough School were also doing their part . Dr. Condoleeza Rice visited the school Wednesday to offer advice on finding you passion, seeking out mentors and pursuing challenges. Life continues to move along….
So while you are out and about – check out our great new listing – 304 Lorraine
Or any of this week’s open houses below:
Printable PDF version of the open houses: Hancock Park Area Open Houses – Sunday, March 18