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Falling Mortgage Rates Are Not Creating Housing Sales


By Patrick   Follow   Tue, 27 Nov 2012, 11:48am PST   242 views   0 comments   Watch (0)   Share   Quote   Permalink   Like   Dislike  

http://www.millersamuel.com/blog/get-down-with-it-falling-mortgage-rates-are-not-creating-housing-sales/27312

I thought I’d explore the effectiveness of low mortgage rates in getting the housing market going. I matched year-to-date sales volume where a mortgage was used and mortgage rates broken out by conforming and jumbo mortgage volume. Mortgage volume has been falling (off an artificial high I might add) since 2005, while rates have continued to fall to new record lows, yet transaction volume has not recovered.

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