Higher mortgage rates are expected to slow home sales. If the demand for homes falls due to higher mortgage rates, inventories of available homes would expand, which would create competition among home sellers and potentially lead to lower home prices. For any questions regarding your mortgage rate and buying a home feel free to contact your.
Home buyers take note. Raw sales volume is rising and available inventory is dropping. Basic supply-and-demand tells us that this will lead home prices higher. Furthermore, mortgage rates are rising quickly, increasing the cost of homeownership. If buying a home is a part of your plan for 2011, consider accelerating your purchase time frame.
Almost Daily Grant’s “Almost Daily” is the end-of-day delectation from Grant’s. ADG tells you what happened. It speculates on what may happen and tracks and develops Grant’s themes. Look for it after the New York close of trading-almost daily.
The data is based on Freddie Mac’s Primary Mortgage Market Survey, a weekly poll of more than 100 lenders around the country. Unfortunately for Spokane home buyers and other local rate shoppers, the Freddie Mac figures are low. Both mortgage rates and fees rose by more than what’s being reported. Freddie Mac’s data is not real-time.
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Home price gains bring sellers off the sidelines Home price gains bring sellers off the sidelines In this Wednesday, July 3, 2013, photo, Robert and Emerald Oravec pose outside their new home in Vista, Calif., Wednesday, July 3, 2013.
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