Posted by John V, FL on August 02, 2003 at 17:07:59:
Great post. When the buyer pool gets real small and lots of distressed properties everywhere is when the biggest equity will be made again.
Fixed Rates Jump Again - Posted by Randy
Posted by Randy on July 31, 2003 at 14:13:22:
This from National Mortgage News.
The average 30-year fixed mortgage rate jumped to 6.14% for the week ending Aug. 1 from 5.94% the previous week, according to Freddie Mac’s Primary Mortgage Market Survey.
Re: Fixed Rates Jump Again - Posted by Rob Ricker
Posted by Rob Ricker on July 31, 2003 at 21:54:56:
Rates actually went up to about 6.625 or 6.75% today, but it won’t be reported until Friday (They have to wait to poll brokers, banks, etc. to find out current averages)
Maybe a good sign - Posted by Steve-nc
Posted by Steve-nc on July 31, 2003 at 18:55:23:
If rates increase and real estate market values hold, could be a sign of a stronger economy. But lets face it, even at 6.14% they’re giving money away.
Steve-nc
Re: Maybe a good sign - Posted by RichV(FL)
Posted by RichV(FL) on July 31, 2003 at 19:57:16:
Steve,
You are not kidding. At 6.14% that is still giving money away. IMHO.
Regards,
RichV(FL)
Re: Maybe a good sign - Posted by ScottS
Posted by ScottS on July 31, 2003 at 20:02:11:
The good thing is in the higher priced markets the increase will cause home prices to start to drop because they are now pricing out buyers who could qualify for higher priced homes at low rates.
They are giving money away but the buyer pool IS getting smaller, and that is a good thing.
ScottS