We were lucky enough to have Darel Ansley of Peoples Bank in Wenatchee give us his thoughts on the mortgage market for 2011.
Darel writes:
I think for the 2011 selling season we will remain in a range with 5.5% being an extreme high and maybe 4.25% as an extreme low with 4.5-5.25% being more likely. I was expecting some good growth this year in sales volume to westsiders as their software jobs etc. have remained steady, and the price of a 2nd home over here has dropped. However, I am concerned about all the recent news which projects uncertainty: gas prices, earthquakes, Nuclear reactors, Mideast unrest, etc. driving people back to their 2009-2010 tight habits.
Read more of Darel's Mortgage Predictions Here
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