08.23.04 - Rates
for 30-year mortgages hit a low of 5.21 percent
in mid-June, but since rose to 6.28 percent,
according to a nationwide survey released Thursday
by Freddie Mac.
Other local builders also seem unfazed by rising
rates, said Steve Reeves, president of the Morgan
County Homebuilders Association.
"
That's a low rate, regardless," he said. "A lot of my builder
friends seem to be busy right now and I know I am. "
Reeves, who is also president of Reeves General
Contractors Inc., is developing another
phase in his Heatherwood subdivision, which is off
Spring Avenue and has patio homes that
range from $118,000 to $130,000.
From the Decatur Daily, August 23, 2004
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