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.
Falling Mortgage Rates Are Not Creating Housing Sales
By Patrick Follow Tue, 27 Nov 2012, 7:48pm 174 views 1 comment
In Menlo Park CA 94025
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if your basis of comparsion is 2005, the middle of a mania when no standards were required to get a morgage, mortgages are never coming back...