trends: Low Mortgage Rates - What Now?
- 12/08/08 02:03 PM
Finally the mortgage rates came down again. Not that we haven't been at an historic low already. The last couple of years showed such a tremendous increase in property appreciation that actually we priced ourselved out of the market. Let me explain: You bought a house in 1995 for $ 200,000. The house appreciated an average of 10 % per year. So, in 2005 the market value was 400,000. But when you sold in 2008 the buyer gave you an offer for $ 350,000 saying they like the house but cannot afford to go any higher. Now, you are still making more … (0 comments)
Finally the mortgage rates came down again. Not that we haven't been at an historic low already. The last couple of years showed such a tremendous increase in property appreciation that actually we priced ourselved out of the market. Let me explain:;)
;)
