Eugene Loan Guy

Posts Tagged ‘5% interest rates’

The latest news from the housing market continues to be mixed but with some definite upbeat news. Yesterday, the government announced that existing home sales were higher than expected and higher than the month previously. Today the consumer confidence came in lower than was expected and lower than the month before. It is the consumer confidence that shows that people are willing to start making purchases, not just homes, but appliances, cars and other than staple items. The Fed continues to purchase mortgage backed securities and mortgage rates are dropping below 5% again for a 30 year fixed. Additionally, according to the Mortgage Market Guide, “Harris Private Bank in Chicago Jack Albin says ‘worst is over in housing market’ and that home prices on a national basis are at ‘fair value’ when gauged against the Consumer Price Index.” Read More