<h5><a href=”http://www.paramountmortgage.com/”><img class=”size-thumbnail wp-image-448 alignright” title=”Paramount Mortgage Company – St Louis” src=”http://stlouisrealestatenews.com/wp-content/uploads/2009/10/PMC_Logo-stacked-150×119.jpg” alt=”Paramount Mortgage Company – St Louis” width=”139″ height=”113″ /></a></h5><p>First-time home buyers comprised an unprecedented 47 percent of the market last year according to a recently published report by the National Association of Realtors (NAR). <br /> <br />NAR’s report, 2009 Profile of Home Buyers and Sellers, points to the federal tax credit and the historic affordability of housing as the most likely reasons first-time buyers scored so high in sales.<br /> <br />According to NAR, housing economists predict that “2010 will be an even bigger year for first-timers.” Who are these people, and what do they want?<br /> <br /><strong>Most are married</strong> – Forty-nine percent are a married couple. Single females comprise a quarter of first-time buyers. Single males account for just 12 percent.<br /> <br /><strong>They’re young</strong> – More than half (53 percent), are between the ages of 24 and 34. Twelve percent are younger than 24.<br /> <br /><strong>They’re diverse</strong> – Twenty-two percent are part of a minority group, compared with 13 percent of repeat buyers. Six percent speak a language other than English. Twelve percent were not born in the United States.<br /> <br /><strong>They like the suburbs</strong> – Even though 22 percent purchase in an urban area, the suburbs continue to be the most popular locale, with 52 percent buying there. The third most popular spot is a small town. <br /> <br /><strong>They make their own time</strong> – First-time buyers take an average of 12 weeks to find their home, compared with 10 weeks for repeat buyers.<br /> <br /><strong>They’re not afraid of foreclosures</strong> – Eleven percent of first-timers bought a home in foreclosure and 56 percent considered it. Only 9 percent of repeat buyers bought a foreclosure, and just 41 percent considered it.<br /> <br /><strong>They’re most likely to use a referral</strong> – Fifty-three percent found their agent through a referral, compared with 36 percent of repeat buyers, many of whom sought the services of their previous agent. <br /> <br />More than 9,000 consumers who recently completed a home buying transaction were surveyed by the National Association of Realtors last year to compile the 2009 Profile of Home Buyers and Sellers report.</p><p><strong>St. Louis Mortgage Interest Rates – April 14, 2010</strong> *</p><ul><li><strong>30-year fixed-rate mortgage 5.125% no points </strong></li><li><strong>15-year fixed-rate mortgage 4.375% no points </strong></li><li><strong>5/1 adjustable rate mortgage 3.750% no points </strong></li><li><strong>FHA/VA 30-year fixed rate mortgage 5.25% </strong></li><li><strong>Jumbo 5/1 ARM 4.25% no points</strong></li><li><strong>Jumbo 15 year fixed rate mortgage 4.875%</strong></li></ul><p><strong></strong>For more information or if you have questions on mortgage rates in <strong>St. Louis</strong> you may contact me by <span style=”COLOR: #000000″>phone at my direct line, (314) 372-4319, email at <a href=”mailto:hjfrankjr@paramountmortgage.com”>rfishel@paramountmortgage.com</a> or you can visit our company website at <a href=”http://www.paramountmortgage.com”>http://www.paramountmortgage.com</a>.</span></p><p><hr /><p>_{*Note- The above rates are based upon a typical sale price of $187,500 with a 20% percent down payment leaving a loan amount of $150,000 to a borrower with a 720 credit score for a loan with no discount points charged. Rates and terms will vary depending upon loan amount, home value, credit and income of borrower.}</p><p>_{This information is provided by this author and this site for informative purposes only and is not warranted or guarteed in any way.}</p></p>