2011 Close on a positive note for Mortgage Interest Rates. Investors were not willing to take risks at the end of the year, as a result they sought safer investments like Mortgage-Backed Securities. Because of this Mortgage Interest Rates remained low, and in some cases even went lower.
The end of 2011 also saw better economic news, especially in the jobs market, which resulted in an increase in consumer confidence. A good indication of the increase in consumer confidence was the increase in home sales at the end of the year, much of which points to a stronger housing market in 2012.
Mortgage Interest Rates are predicted to stay low for the first quarter of 2012, and there does not seem to be any real treat of Mortgage Interest Rates going up any time in the near future. What this means is that housing prices should stay very affordable, and with the apparent increase in consumer confidence, more home sales in 2012. That would be a nice shot in the arm for a Real Estate Industry that has been slumping for a long time now
Regardless of what happens in 2012, at least we are starting off the year with a the hope for a better year than we started off 2011 with. I for one hope that the expectations are correct and that 2012 Promises To Be A Better Year Than 2011.
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Who To Call For Your Mortgage Needs In Connecticut:
George Souto NMLS# 65149 is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 gsouto@mccuemortgage.com, or visit my McCue Mortgage Homepage.
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