With the amount of political unrest and economic uncertainty in our economy and the recurring recession in Europe, I wouldn't be suprised to see mortgage rates drop a little further in the near term. This is noticed in the jig saw results in our stock market and the over reaction of any economic report, good or bad. The month of December will be a test of our economic resolve, federal governments ability to make decisions on new laws and regulations and our general stability as a nation. Since the elections, it doesn't appear the markets are reacting with much confidence that these major issues will be resolved by the end of the year deadline. Only time will tell.
Unless the accient Mayas are correct, all signs point to a very active real estate market in 2013 !!!
We are going over the cliff with a free fall from there. The sign of insanity is to continue doing the same thing over and over expecting different results, we keep voting for the same people expecting different results
Well I tend to be an optimist, Joyce, but you are right - at least in the short term the Cliff seems immanent. Last week seemed like there was a lot of political foreplay with the big game coming up over the next few weeks. Wish they weren't josting with the state of the economy and all these jobs on the line. And I feel confident the RE Market is in the recovery phase going into next year, we just need to get thru these next few months. In the mean time, enjoy the Rates while they are available.
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