interest rates: Mortgage Standards Standing Firm
- 11/07/13 05:05 AM
Mortgage standards don’t appear to be budging, even though over the third quarter of 2013 we have seen interest rates rise, causing fewer refinances and a lower demand for mortgages. The Federal Reserve conducted a survey over the first half of October, of federal loan officers in 73 domestic banks and 22 international branches, in regards to a 1% rise in interest rates for a 30 year fixed mortgage in 3Q13. The survey found that 80% of banks did not adjust their credit standards at all, while 15% of banks admitted to lowering their standards slightly. Erik Johnson, senior U.S. (0 comments)
interest rates: Rising Interest Rates Won’t Hurt The Housing Market
- 06/26/13 07:52 AM
In a housing market on the road to recovery, there has been recent concern that the rising interest rates will affect the housing market negatively. Rates that were once 3 ¾ percent have now risen to nearly 5% in less than a month. Chief Economist at Trulia, Jed Kolko, stated to CNBC, that 5 % is a historically low rate. He went on to say in the ‘Squawk-Box’ interview, that we may see a slight decrease in buying due to rate going up however, it will be a delayed affect. "The big effect it has right away is it discourages people (0 comments)
interest rates: How Long Can They Go?
- 06/07/12 10:48 PM
With each passing week, it seems someone is talking about interest rates with a renewed abandon. "Can you imagine interest rates below 4%?!", I heard one realtor say yesterday. Really, it was only a couple years ago when, people were saying Can you imagine interest rates below 6% because 8% used to be absolutely the lowest rate for the past X years (you insert your perspective here on the # of years based on your longevity in the industry). And it many times that is followed up by, "I remember when I was paying 20%+ for my home mortgage and I (1 comments)