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2013-06-21 09:02:10
Impact of Rising Mortgage Rates on Home Sales

Impact of Rising Mortgage Rates on Home Sales

Mortgage rates will continue to rise. They will probably be near 5 percent by this time next year, compared to the 3.5 percent average of the past 12 months. The rates will be even higher in 2015 and 2016. Certainly, rising rates are bad news for buyers and some potential homebuyers will be pushed out of the market. For example, the number of renter households that have sufficient income to buy a $177,000 home at a 3.5 percent mortgage rate is 17.8 million. The number drops to 14.9 million at a 5.0 percent mortgage rate, which is a decline in percentage terms of 16 percent.

 
Blog Archive
2013-06-21 09:02:10
Impact of Rising Mortgage Rates on Home Sales

2013-06-14 10:49:48
Source suggest home prices rising at Double-Digit


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