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 (660 views)
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2 Comments

1. Weebag said...

Wouldnt mind a 15 year fixed at that rate!

Wee

Friday, October 9, 2009 02:27PM Report Comment
 

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.

Friday, October 9, 2009 02:43PM Report Comment
 

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