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.
More Quotes from Amy Cutts:
The onset of 2005 bodes well for the housing industry. Long-term mortgage rates are currently below six percent.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
Last Friday's unexpectedly weak employment report caused interest rates on long-term Treasury bonds and, by extension mortgage rates, to fall as investors worried about the health of the U.S. economy.
Amy Cutts
People who are making the transition from renters to owners will find it the biggest hurdle.
Amy Cutts
The interest-rate savings are not a primary driver of the decision to refinance a fixed-rate mortgage in the current environment. Now, the dominant refinance borrower is looking at the best way to consolidate debt or finance a big project such as a home improvement. And we also have borrowers who took out adjustable-rate mortgages in recent years that are scheduled to have their payment reset this year that may be looking at the option to refinance into a fixed-rate product or into another adjustable-rate mortgage.
Amy Cutts
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