A cut...won't affect the 30-year fixed mortgage rate at all. According to Freddie Mac, the 30-year fixed rate was 6.8 percent last week, and we think it'll stay about the same. But another interest rate cut could mean a slight drop in the short-term one-year adjustable rate mortgage (ARM).
More Quotes from Lawrence Yun:
It's not surprising that Arkansas is up for the first three months compared to last year for the same period . It is following the pattern of affordable regions doing better than the rest of the country.Lawrence Yun
I feel comfortable with that, although 40 percent would be in the upper end of possibility. As for the lower end, getting double-digit appreciation will be an easy task for Seattle.
Lawrence Yun
In the Midwest, where homes are very affordable and where home prices have risen much slower than the national average, sales are more dependent on job growth in the overall economy.
Lawrence Yun
So long as the South remains affordable and the number of available jobs remains steady we forecast continued growth in Atlanta.
Lawrence Yun
One thing that we noticed is the amount people put into down-payments, which was about 20 percent during the stock-market boom, rose to 22 or 23 percent when the economy declined. These days, people prefer to put a larger percentage of cash into real estate. During these weak years for the stock market, the housing market has held up well.
Lawrence Yun
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