Will Mortgage rates under 4% get potential home buyers off the fence?

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Real Estate Agent with Keller Williams Select Realtors-Buy a home in Washington DC. Sell a home in Washington DC SP98364271

Will Mortgage rates under 4% get potential first time home buyers off the fence?

 

Realtor Magazine published an article last week called "Spread the Word: Mortgage Rates Below 4%"

 

Now while low interest rates can spark some people interest,I am not sure that it will get cautious home HOME BUYERS SITTING ON THE FENCEbuyers off the fence and pursue the home buyer process. Many consumers are lacking confidence in this economy. I think it is going to take more than mortgage rates being under 4% to stimulate the housing market. Plus with the Holidays approaching,I am not sure if many people care about mortgage rates being low to be honest with you. They either are concerned about where they are going to get money to buy gifts for their family members,friends and colleagues or if they are going to be getting anything for Christmas. God forbid but some are in the process of losing their jobs and homes or have already lost both.

 

Will Mortgage rates under 4% get first time home buyers off the fence?So what do you think. Will Mortage rates under 4% get potential first home buyers and even move up home buyers off the fence? In case you missed it here is the link to the story Spread the Word: Mortgage Rates below 4%

 

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Ambassador
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Liz and Bill Spear
RE/MAX Elite 513.520.5305 www.LizTour.com - Mason, OH
RE/MAX Elite Warren County OH (Cincinnati/Dayton)

Lanre, At 4% it's not quite in the category of "giving money away", but it's pretty close to it!

Nov 24, 2014 10:11 AM #1
Rainmaker
565,878
Jordon Wheeler
The Jordon Wheeler Group - Fairburn, GA
J W Group Real Estate Sales and Service

Hey Lanre-"THE REAL ESTATE FARMER" Folayan 

I agree that consumers are being catious.  I hear many of my clients saying 'let's wait until next year' and maybe that is a good move.  Mortgage rates are really up in the air.

Best of GREAT success to you always sir!

Nov 24, 2014 10:16 AM #2
Rainmaker
4,345,204
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Lanre-"THE REAL ESTATE FARMER" Folayan buyers who can qualify for a loan should absolutely take advantage of these low rates and enjoy OWNING a home versus renting!  

Nov 24, 2014 10:15 PM #3
Rainmaker
846,120
Marco Giancola
Beachfront Realty - Miami Beach, FL
Realtor (305)608-1922, Miami Beach Florida

Hi Lanre-"THE REAL ESTATE FARMER" Folayan these fence hangin people need to jump off and buy! They don't realize what an opportunity this is. When I bought my first house interest rates were 14-18%! They can buy 4 times the house now!

Nov 25, 2014 06:46 PM #4
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Rainmaker
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Lanre-"THE REAL ESTATE FARMER" Folayan

I don't make promises.I deliver results.SOLD HOMES
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