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interest rates: Warren Buffett on Housing - 03/07/11 10:22 AM
In Warren Buffett's annual letter to the shareholders of Berkshire Hathaway, Buffett says, "A housing recovery will probably begin within a year or so. In any event, it is certain to occur at some point."
Certainly a safe statement as a recovery is inevitable.
Analysis by leading industry experts, taking shadow inventory and resetting loans into consideration, would suggest a recovery is 2 - 4 years away. However, when we factor low interest rates into the overall equation of affordability, Mr. Buffett's analysis seems more on the mark.
A one percent increase in interest rates is nearly equivalent to a 10% … (5 comments)

interest rates: Mortgage Rates Drop to New Lows - 10/15/10 11:13 AM
Thirty-year fixed-rate mortgages (FRMs) have been under 5 percent for 23 weeks in a row, according to data gathered by Freddie Mac. This week, the GSE reports that the average 30-year rate fell again to break the survey's all-time low, hitting 4.19 percent (0.8 point). Last week, it was 4.27 percent.
The 15-year FRM this week averaged a record low of 3.62 percent (0.7 point) in Freddie's study, down from last week's 3.72 percent.
"The Bureau of Economic Analysis estimates that homeowners held an average effective mortgage rate of 6.07 percent in the second quarter of 2010," Nothaft said. "By refinancing … (0 comments)

interest rates: Mortgage Rates Fall to New Lows - 08/21/10 11:47 AM
Mortgage rates reached new lows yet again this week with the 30-year fixed at 4.42 percent, down from last week's 4.44 percent.
The refinance share of mortgage activity increased to 81.4 percent of total applications from 78.1 percent the previous week, which is the highest refinance share observed since January 2009, the Mortgage Bankers Association said.
Freddie Mac also reported another low for the 15-year fixed rate this week at 3.9 percent, down from 3.92 percent last week.
Remember, every 1% change in interest rate is similar to a 10% change in affordability. If you can afford a $500,000 house today at 4.375% ... you … (4 comments)

 
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Nancy Moeller

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