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






Start a Conversation - Add Comments

Your Comment: ( Please enter all fields and security code. )

Name:
Email:
Website:
Topic:
Comments:
 
Word Verification:
 

Latest Comments

Bank of America Moves $50 Billion of Derivatives to UK - Duck_Dodgers | Jan 28, 2013 02:38 AM ET Um, didn`t one of the major banks recently lose huge sums of money investing in derivatives in the UK??

ckoffend | Jan 28, 2013 07:13 AM ET Duc... - by BAC8255

Beware the Escape Hatch in the New Mortgage Rules - Omniland | Jan 10, 2013 05:20 PM ET Just an example of government price fixing which will cause a mess in the housing market. What housing market business (appraiser, title company, mortgage lender, ... - by ThatG255

Buffett Joins Call for `Strong` Estate Tax - RalphPetrillo | Dec 11, 2012 03:41 PM ET Before the estate tax is changed, all existing foundations that received funds but did not receive an estate tax should be taxed at 45%. So all the money Buff... - by Larry_C452

what happens to home prices - firefoxgs | Jan 31, 2013 11:28 AM ET I`ve had three mortgages in my life; I`m 62. The longest mortgage I ever had was six years, from ྔ to ྚ. The last one I paid off in under two years, e... - by Xlien23

Home Builder Confidence Falls, First Time in Nearly a Year - tahoe3 | Feb 19, 2013 10:02 AM ET as far as i can tell. jan 2009, home depot stock was at 22.9. today its over 67. tell me again mr lagone. just how bad mr obama is for the u.s. economy.

Vict2455



Rising Mortgage Rates Spook Housing

Real Estate Agent Directory

Are you looking for a real estate agent in your area? At housing news blog, you can search for your local realtor and real estate service by using our agent search features.

Real Estate Agent Directory

Get listed!

Are you a real estate agent? Get listed for free with us! Complete a real estate agent profile form and get listed in a few days. Click on the link below to get started!

Free agent profile!