Real Estate and Mortgage Meltdown

By
Real Estate Agent with Tanya & Co./Keller Williams

I attended a seminar sponsored by Countrywide Mortgage on Tuesday May 6th at the Crowne Plaza in Tysons Corner, Virginia which featured Tom Fiddler, an expert in the real estate industry. It definitely put the current real estate market in perspective.  He gave some background about the bond ratings of mortgages, etc. but more importantly emphasized that we need to "celebrate affordability" and I couldn't agree more. Home prices are down and household income is still up. The final piece of the puzzle is interest rates-which are still so low. It is one of the most affordable times to buy a home nationwide in two decades! Obviously, at some point, probably after the election, interest rates will have to rise. 

Mr. Fiddler also emphasized using FHA to the fullest. Not only do FHA loans typically end up being cheaper than conventional loans right now, if home prices were to stay flat or even go lower and interest rates go higher, the sellers who have FHA loans will be in a much better selling position because of the assumability of FHA loans.  Tom Fiddler was an excellent speaket and I highly recommend seeing a seminar if you have an opportunity.

Comments (1)

Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Tanya, thanks for sharing about your seminar. You are right about promoting FHA loans as a new way to get those into houses who could not find a loan program that would work for them.

May 09, 2008 01:58 PM

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