Even with rising mortgage rates over the last four weeks, 30-year fixed-rate mortgage rates remain an historical bargain. To date, contract rates for these mortgages have been below 6 percent for 31 weeks in a row, and we don't expect these rates will rise very much above 6-14 percent by year end.
More Quotes from Amy Cutts:
If they sold their house today, they would still get more money than they paid for it. But they won't be able to buy as many goods and services as they could before.Amy Cutts
Five percent on its own would be good news. That's a good rate of appreciation and reflects a strong housing market.
Amy Cutts
This is a slowing down to what I think of as good, sustainable levels.
Amy Cutts
The bond markets got a little ahead of themselves, causing yields to rise too quickly over the past few weeks. This week saw a bit of a correction and mortgage rates fell for the first time in eight weeks. Continued volatility in financial markets, however, will keep rates teetering up and down for some time to come.
Amy Cutts
Part of the purchasing decision for buying a house is an expectation of what housing prices are going to do in the future. It's true that houses are getting more and more expensive, but people are increasing their wealth in ways we haven't seen in a while.
Amy Cutts
The good money is going to be made where the money is. A lot of the swapping-up has already happened.
Amy Cutts
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