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 buyers 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.
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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