RealtyBizNews - Real Estate Marketing and Beyond
Real Estate Marketing & Beyond
Home » Housing » US Real Estate » Mortgage Rates May Slow New Sales

Mortgage Rates May Slow New Sales

By Reno Charlton | January 17, 2011

A recent report from Capital Economics suggests that the increased rate of interest could be putting off potential property purchasers in the US. Whilst this week has seen the interest rate fall slightly it has been steadily increasing over the past few weeks, which may have negatively impacted property sales. As buyers err on the side of caution, even slight fluctuations can cause ripples.

These figures showed the rate this week falling from 4.82 percent to 4.78 percent on a thirty year fixed mortgage, but compared to the low of 4.17 percent in November, rates have actually skyrocketed comparatively.  Analysts now believe that rates actually bottomed out at then, and what we can expect is a continual climb from this point forward.

Are rates headed North?

Are rates headed North?

Compared with August's 6.48 percent rate for the same mortgages, but experts fear the record low rates that have spurred a bit of upswing may be over for good. Even with rates this low, it has been a difficult task to get consumers to budge toward purchasing. Of course this may not be a stickly market controlled variably, many millions of people cannot afford to buy anything. Mortgage applications have been on a slight upswing even still, even as most Americans are busy paying down their debt where they can.

  • Sign up to Realty Biz Buzz
    Get Digital Marketing Training
    right to your inbox
    All Contents © Copyright RealtyBizNews · All Rights Reserved. 2016-2024
    Website Designed by Swaydesign.
    linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram