Real estate industry hoping to rebound this summer with low interest rates

Home interest rates have gone down from 4.55-percent at the start of 2019 to about 3.1-percent today.

TAKE A LOOK AT HOW THE HEALTHCRISIS TOOK A TOLL ON HOMESALES.IF YOU COMPARE APRIL OFTHIS YEAR TO LAST YEAR -CLOSINGS PLUMMETED BY MORETHAN 33-PERCENT.AND IN MAY, ITWAS DOWN NEARLY 20-PERCENT.JULIA FELLO SHARES HOW THEREAL ESTATE MARKET IS BOUNCINGBACK FROM THE PRESSUREINYOUR REBOUND REPORT.FRANKLIN AND NICOLE GAPPA KNEWTHEY WOULD LEAVE THE BRIGHTLIGHTS OF NEW YORK CITY TOBUILD A FAMILY IN A FEW YEARS.BUT COVID-19 QUICKLY SPED THATPLAN UP.(áSOTá) NICOLEGAPPA/NEW HOMEOWNER09:07:42fothe first couple weeks wedidn't even leave theapartment at all 45(áSOTá)FRANKLIN GAPPA/NEW HOMEOWNER09:06:16 i furloughed a littlebit(áSOTá) NICOLE GAPPA/NEWHOMEOWNER09:10:00 it if youcan work remotely then we canmove this seems like a goodLESS THAN A WEEK AFTER THEYMOVED BACK TO WISCONSIN, THEYBOUGHT THEIR FIRST HOME INGLENDALE.(áSOTá) NICOLEGAPPA/NEW HOMEOWNER09:11:43like this has a nice sizeddeck and a backyard and anarea for us if we had toquarantine againTHEIR REALESTATE AGENT TANYA BAKER HEARSTHIS A LOT.

PEOPLE WANT MORESPACE AFTER BEING COOPED UPINSIDE FOR MOST OF THIS YEAR.(áSOTá) TANYA BAKER/KELLERWILLIAMS REALTOR09:19:22 inthe next 30 days I'm projectedto close as much as I'veclosed in the first 6 monthsthis is something I'mconstantly hearing 28(áARTANIMATIONá) SOURCE: THE REALESTATE MARKET IS MAKING AREBOUND WITH THE HELP OF LOWINTEREST RATES.IN 2019 - DOWNFROM 4.55 PERCENT TO 3.74.NOW, THEY'RE DOWN TO ABOUT 3.1PERCENT.THE GAPPA FAMILYLOCKED IN A 2.87 PERCENTINTEREST LOAN.(áSOTá) FRANKLINGAPPA/NEW HOMEOWNER09:12:25 wewere at three ahead of timeand then they were like oh wecan get you lowerBAKER SAYSMORE POTENTIAL BUYERS AREREALIZING THIS:(áSOTá) TANYABAKER/KELLER WILLIAMS REALTOR9:18:52 because the interestrates are so low a lot ofpeople can get more house nowAND THE CLOSING PROCESS WITHMASKS AND SOCIAL DISTANCING ISNOT AS INTENSE AS IT WAS A FEWMONTHS AGO.(áSOTá) TANYABAKER/KELLER WILLIAMS REALTOR9:20:17 they were talkingabout drive thru closingswecan come in the same room andwe wear masks farther apartSO,HERE'S YOUR REBOUND RUNDOWN:-GET PRE-APPROVED FOR A LOANSO YOU KNOW THE PRICE YOU CANAFFORD EACH MONTH.-INTERESTRATES ARE AT HISTORIC LOWS-WORK TO IMPROVE YOUR CREDITSCORE TO GET THE BEST LOANJULIA FELLO TMJ4 NEWS.