Rising rates or not, home sales still cooking
Amid rising rates, the Mortgage Bankers Association reported that, overall, mortgages were up 2.4% last week.
The average 30 year fixed mortgage rate is at 6.08, up slightly from the previous week.
Most analysts are predicting steady behavior from the real estate market, as well as well as from mortgage rates. Some are waiting to see what affect the variable rates of maturing ARM loans will have on the significant percentage of mortgage customers that used such funding in recent years.
For those waiting to buy real estate once the market crashes, you might be waiting for some time. Expect appreciation to definitely slow, even idle in some places, but don't expect much movement in home prices - at least not in the near term it appears. Rising home prices, like rising mortgage rates, appears to be the trend.
Need a real estate agent?
The average 30 year fixed mortgage rate is at 6.08, up slightly from the previous week.
Most analysts are predicting steady behavior from the real estate market, as well as well as from mortgage rates. Some are waiting to see what affect the variable rates of maturing ARM loans will have on the significant percentage of mortgage customers that used such funding in recent years.
For those waiting to buy real estate once the market crashes, you might be waiting for some time. Expect appreciation to definitely slow, even idle in some places, but don't expect much movement in home prices - at least not in the near term it appears. Rising home prices, like rising mortgage rates, appears to be the trend.
Need a real estate agent?
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