Five percent on its own would be good news. That's a good rate of appreciation and reflects a strong housing market.
More Quotes from Amy Cutts:
People who are making the transition from renters to owners will find it the biggest hurdle.Amy Cutts
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.
Amy Cutts
Interest-only and option payment loans had been ways to afford homes in expensive markets. Now even, these products will no longer be attractive. That will impact affordability.
Amy Cutts
Refinancing activity was very strong in the fourth quarter, even with higher interest rates. The large share of borrowers who took cash out when refinancing their mortgages combined with the strong overall refinance volume led to an extraction of home equity through prime first-lien refinances of 70.3 billion, slightly higher than the revised estimate of 67.2 billion extracted in the third quarter. We expect the share of all refinance borrowers who take out cash to remain high in 2006 because of the relatively high cost of second mortgages and home-equity lines of credit.
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
It is something that we are paying attention to very closely.
Amy Cutts
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Based on Topics: Media & News QuotesGeography has made us neighbors. History has made us friends. Economics has made us partners, and necessity has made us allies. Those whom God has so joined together, let no man put asunder.
John F. Kennedy
We always have time enough, if we will but use it aright.
Johann Wolfgang von Goethe
Have confidence that if you have done a little thing well, you can do a bigger thing well too.
David Storey