Friday, October 21, 2011
Sales still falling – what will happen when interest rates go up
Sales of previously owned homes fall in September
"People going from a 3.5% down payment to 20%, those are sizable," said Lawrence Yun, chief economist of the Realtors group. Tougher conforming jumbo loan limit rules went into effect in October, and a separate survey of about 1,300 real estate agents in areas that experienced lower loan limits showed that 16% of buyers dropped out of the home buying process.
Posted by mark @ 11:15 AM (1312 views)
3 thoughts on “Sales still falling – what will happen when interest rates go up”
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uncle tom says:
Previously owned = Second hand
We should make the distinction here too – who would think of paying the same for a second hand car as they would a new one?
hpwatcher says:
Sales still falling – what will happen when interest rates go up?
– Easy, there will be more QE to keep them low.
a saver says:
‘what will happen when interest rates go up?’ Are we EVER going to find out?