Optimists are pinning their hopes on a continuation of low mortgage rates. They note that rates could remain low because of concerns that debt problems in Europe portend a wider slowdown. Low rates help to reinforce demand. But even if these optimists are right, low rates only have so much of an effect. Despite the average 30-year rates now hovering around 4.8%, the Mortgage Bankers Association noted last week that the number of people seeking mortgage purchase applications had dropped more than 27%, reaching a level last seen in May 1997.

Report Article

Please complete the required fields.

Your Name

Email

Reason (required)
This post contains broken linksPost has incorrect informationPost has spamCopyright IssueOther

Description

Submit