Friday, Oct 09, 2009
Interest Rates have nothing to do with it..
BLOOMBERG: Low Mortgage Rates Fail to Get Phones Ringing
Mortgage rates near historic lows aren’t producing more buyers, said Kittrell, who recited terms on a rate sheet on his desk which he said were almost unprecedented in his 30 years as a broker: A 30-year fixed mortgage for 4.75 percent, a 15-year fixed for 4.25 percent, a 5-year adjustable at 3.5 percent.
Posted by rob @ 12:37 PM (337 views) Add Comment
2 Comments
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1. Weebag said...
Wouldnt mind a 15 year fixed at that rate!
Wee
2. Neil B said...
Not wanting to state the obvious but this is because house prices are out of reach for the majority of people. Rates can go to 0% and they still wont have a large enough salary to secure a mortgage.