Rising Mortgage Rates Spook Housing

John9876 | Dec 19, 2012 12:03 PM ET The only thing supporting the housing market is Fed printing.

knetaz | Dec 19, 2012 12:07 PM ET "The only thing supporting the housing market is Fed printing." Well, there is that whole "people like to have a place to live" thing......

duck33 | Dec 19, 2012 12:22 PM ET Our could it be the 3.8% extra tax coming January 1st ? The first of the year housing will be dead like after the tax credit for housing moved sales forward.

NewDay12 | Dec 19, 2012 12:53 PM ET I don`t think an uptick in rates have anything to do with it. Jobs are unstable and December / January is layoff season. A bunch of people comming off the pay rolls that simply can`t afford it. I like how these "salespeople" still think rates matter....for your average person they don`t...they simply just don`t have the money or the desire to live in a debt coffin.

LoganMohtashami | Dec 19, 2012 12:56 PM ET Here is the reality of the refinance market in America today. The last wave lower of rates after the Spanish default scare had brought one more wave or serial refinances into the market. Take away the HARP 2 refi`s and this is all we have left in America to refinance. After this barring a Harp 3 product there is nobody left to refinances. So, even a .25% move will effect application. However, if we get to 3.75 % - 4% that`s all she wrote because the only Americans left that should refinance are Harp Borrowers. Problem we have seen in the market place is that loans have taken so long to do that rate extension and re locks were needed. Now rates have killed off the re locks and a lot loans are at pricing risk now. So, if rates stay even this high without%2

LoganMohtashami | Dec 19, 2012 01:20 PM ET On another note Mortgage Purchase application have been dead since mid 2010. Rates fell from 5% to as low as 3.25% and it did nothing for MPA. We simply didn`t have enough qualified home buyers even with the cost of debt going down. The most realistic chart ever, that shows the true capacity of Americans as a whole. Logan Mohtashami

meteorfunds | Dec 19, 2012 04:21 PM ET Rising rates do not encourage people to lock in or buy now. The reason is simple and a reaction from people like me who have learned that rates will come down even more as the Fed does even more QE. I`m buying a house that will be finished in March and haven`t locked in since signing in Sept. Why should I? Ben will protect me and give us even lower rates. The Fed has taught me to wait for lower rates and not to worry as they will bail me out.

StormT | Dec 19, 2012 05:37 PM ET You could lower the rate to zero and it won`t change a thing. If you don`t have the cash or a JOB...........you ain`t buyin no house!

mtnr | Dec 19, 2012 08:52 PM ET There are around 2.5 million homes in the foreclosure pipeline NOTvincluding the shadow inventory which the banks cant hang on to forever.the housing cheerleaders may be getting a little optimistic here. Realtytrac does not believe home prices have hit bottom because when those mentioned homes hit the market they will drive prices downward leaving the people who`ve been buying homes over the last year underwater; compounding the problem not helping it






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Rising Mortgage Rates Spook Housing

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