Unrest in Middle East is impacting mortgage rates and ultimately home sales. Mortgage apps fell by 6% last week despite rates coming down after a temporary spike up due to the crisis. Concern over the middle east and the rise on fuel prices seems to be eroding homebuyer confidence according to this CNBC report.
Restaino & Associates - Middleton, WI
Broker
Definitely. The potential for oil prices to push well past $100 pb has us all uneasy about price at the pumps. Our economy is not built around $5.00 per gallon. Inflation could be the next wave for us to adjust to. The waves of uncertainty will continue and anyone who thinks the real estate market is "coming back" is either dilusional or self serving.
Mar 02, 2011 06:24 AM
Rainer
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Peter Lindquist
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