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)
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3 thoughts on “Sales still falling – what will happen when interest rates go up

  • 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?

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  • Sales still falling – what will happen when interest rates go up?

    – Easy, there will be more QE to keep them low.

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  • ‘what will happen when interest rates go up?’ Are we EVER going to find out?

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