When will we hit the bottom? What is a good interest rate? What is the best interest rate? These questions will plague buyers for the coming months as they try to decide if this is the right time to buy a home.
Today, Barry Habib, the Mortgage Market Guy, had this to say:
"Existing Home Sales surprisingly came in a bit better than expected, at 4.7M when estimates were only for 4.40M. Perhaps the current low interest rate environment we are operating in - combined with firesale prices on many homes - is helping more homebuyers see the wisdom in finally getting off the fence. The arrival of this positive news is driving Bonds a bit lower in early trading."