Connecticut Property Values and Mortgages

Posted on May 28, 2014 · Posted in Connecticut Mortgage Company

The Connecticut Housing Market and Mortgages

To sum up the state of the Connecticut housing market and mortgage trends: the housing market is improving slowly and mortgage rates are all over the place! Here are some statistics for single family homes in the greater New Haven area:

  • Median List Price: $349,000, 0% change year to year, 2.7% increase month to month.
  • Listings: 15,473, 2.7% increase year to year, 14.1% increase month to month.
  • Days on Market: 74, down 5.1% year to year, down 21.3% month to month


Recent trends for 30 year fixed mortgage interest rates are:


January 2014: @ 4.5%

February 2014: @4.25%

April 2014: @ 4.55%

Now (May 31, 2014): @ 4.15%


So as you can see, interest rates have been very unpredictable. At the moment they are dropping and may well enter the high 3% range this summer.


So what does this all mean? It’s still a buyer’s market although the big drop in days on market indicates increased demand so that could be changing. Mortgage interest rates are again at historic lows. So here’s the bottom line:


  • If you have been thinking of buying a home, now is the time.
  • If you missed your chance to refinance, you should consider trying again as interest rates continue to fall.



Thank you,


Michael Meyer
Senior Vice President of Northeast Financial
210 S. Main St Middletown, CT 06457

Company NMLS#117273

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