Rates saw a slight uptick across the board from last weeks report, with a 30 Year Fixed Conforming loan rising to 3.875%.

These rates are brought to you by Mortgage Network, one of our local Outer Banks recommended professionals and are subject to change without notice.

Discount Point.  Amount paid to the lender to lower the interest rate on your mortgage loan. Each discount point is equal to 1% of your loan amount. (e.g., 1,000 on a $100,000 loan).

Origination Fee. A fee paid to a lender for processing a loan application, making a home loan, and recording a mortgage against the borrower's real property as security for repayment of the loan. The origination fee is stated in the form of points. Each point is 1% of the loan amount (e.g., 1,000 on a $100,000 loan).

Lender Credit.  A credit offered by a lender that reduces the actual amount of the closing costs.

Rates remained relatively flat from last weeks report, with a 30 Year Fixed Conforming loan still at 3.625%. There was a drop on the 7/1 ARM, although a .75% loan origination fee is now included. 

These ratesare brought to you by Mortgage Network, one of our local Outer Banks recommended professionals and are subject to change without notice.

Discount Point.  Amount paid to the lender to lower the interest rate on your mortgage loan. Each discount point is equal to 1% of your loan amount. (e.g., 1,000 on a $100,000 loan).

Origination Fee. A fee paid to a lender for processing a loan application, making a home loan, and recording a mortgage against the borrower's real property as security for repayment of the loan. The origination fee is stated in the form of points. Each point is 1% of the loan amount (e.g., 1,000 on a $100,000 loan).

Lender Credit.  A credit offered by a lender that reduces the actual amount of the closing costs.

New listings jumped last week, with 56 residential listings compared to 36 the previous week.  Additionally, there were 8 new lot listings and one commercial listing.

There was also a nice jump in properties under contract, with 25 residential properties compared to 16 the previous week.  There were also 5 lots that went under contract.

Sold properties remained fairly flat, at 14 residential properties, 3 lots and 1 commercial compared to 17 residential, 8 lots and no commercial the week prior.

The market also saw several price changes including 54 residential and 15 changes on lots and land.

The week ending January 28th was pretty consistent with other weeks this month, with 158 changes in the market.  This included 53 new listings, 21 properties under contract, 25 properties sold, 45 price changes, and 14 expired listings.  For residential properties, there were 36 new listings, 16 under contract, 17 sold, and 39 price changes.  For lots/land, there were 12 new listings, 5 under contract, 8 sold, 6 with price changes, and 6 expired listings.  For the commercial markets, the only movement was 5 new listings.

This market report covers the areas of Corolla, Duck, Southern Shores, Kitty Hawk, Martin's Point, Kill Devil Hills, Colington, Nags Head and Roanoke Island.

Mortgage rates continue to be at historic lows, with 30 year fixed rates as low as 3.625% on a conforming loan, 30 day lock. 

Today's rates brought to you by Mortgage Network, one of our local Outer Banks recommended professionals and are subject to change without notice.

Discount Point.  Amount paid to the lender to lower the interest rate on your mortgage loan. Each discount point is equal to 1% of your loan amount. (e.g., 1,000 on a $100,000 loan).

Origination Fee. A fee paid to a lender for processing a loan application, making a home loan, and recording a mortgage against the borrower's real property as security for repayment of the loan. The origination fee is stated in the form of points. Each point is 1% of the loan amount (e.g., 1,000 on a $100,000 loan).

Lender Credit.  A credit offered by a lender that reduces the actual amount of the closing costs.