Ken Pederson of FAIRWAY Independent Mortgage Corp. in Lancaster, PA - big changes happened today in the world of mortgage rates. Keep your home buyers informed, plus looking ahead to upcoming changes in FHA home loan guidelines. Chart: www.eyejot.com
mortgage-investment.blogspot.com 3/19/2012 Big Change in Mortgage Rates Today
Mortgage rates have much to do with the implementation, how good is the economy. If mortgage rates rise, people can no longer afford to invest money in new properties. This is, of course, bring a slowdown in construction also means less money will flow through the economy.
On the other hand, if mortgage rates fall, people are more able to buy homes. The prices fall further below, the lower the income necessary toProperties for sale. When the property is purchased, the building trade flourishes and this stimulates the economy in many ways.
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Remember, high interest rates?
It 'been 20 years since we've seen double-digit interest rates on a mortgage. Back in the late 70's and early 80-digit mortgage rates were double-standard. It was not until about 1985 after the Reagan administration ended the stagflation and Misery Index, the Haunted CarterYears, the buoyancy mortgage rates are about 7%.
Since then, mortgage rates varied between 9% and about 5.5%.
All in all it was for years a stable interest rate environment in the long past that we used.More or less?
Well, the question is not where interest rates go from here.
By reading the charts, we try to predict their future movement, just as if we were reading theto get a handle on paper goods so that the price of soybeans have been conducted. Then we have a prediction about another product that is sure to be shocking!At this stage you should make a disclaimer. First, no one can really predict the future, and secondly, the world changes every case can and what the future now appears in a heartbeat. One can not overlook the fact that unforeseen events can happen in the world of the blue. With this behind us, we look toStandings.
The last 18 years
During the 90 years interest rates rose for 30 years fixed mortgage interest rates ranged between 9% and 7%. At the time George W. Bush took office to be, the 30-year mortgage average was 8.75%. From here you continue down easily through the first term of George W. Bush. In fact, a low blow from 4.75% in late 2003. Here interest rates between 6.5% and 5.5% for the next three years. This was an unusually stable interestenvironment and interest rates was one reason the housing market was red hot, and yes, busted.
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