Downside of low US mortgage rates? Less selling
invite response
2014 Jul 12, 6:01pm 1,080 views 1 comment
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marco
2014 Jul 12, 10:22pm
What we need is more fraud from the "political contributor" big banks.... (more free money just won't do ).
No worry for them either, not with a corporate doormat for Attorney General. Just wipe your feet on his back, and walk off with more stolen assets from the middle class.
No worry either for the "bought and paid for" regulators, captured in the fraud, and waiting to spin the "revolving door" and go back to the plunder they are supposed to regulate.
Change You Can Believe In: .98 for the Banks, Wall Street and Military, .02 for you
http://news.yahoo.com/downside-low-us-mortgage-rates-less-selling-133730429--finance.html
..."What economists call "rate lock-in" is one of several reasons so few houses are for sale. Another factor is that almost 40 percent of homeowners still don't have enough equity to enable them to sell. Some are "underwater," with a mortgage higher than the home's value. Others may have so little equity that they can't afford to pay off the sales costs and put a down payment on their next property.
"We are in a uniquely difficult period for matching buyers and sellers," says Stan Humphries, chief economist at real estate data provider Zillow.
Home prices are expected to keep rising in the coming months, though at a slower pace than the double-digit gains that occurred earlier this year. Higher prices should lower the number of underwater homes and enable more people to sell.
But as the number of underwater homes falls, several studies suggest the impact could be offset by higher mortgage rates, which would increase the number of homeowners facing interest rate "lock-in." Most economists expect mortgage rates to rise later this year as the Federal Reserve ends its bond-purchase program, which is intended to keep borrowing rates low."...
#housing