Rates Fall for a Change
How about some bookmark love? ::
Yesterday Inman News reported that Real Estate Rates fell finally to 6.34% for the 30 fixed. This means that it is finally cheaper to get money, after significant slowing of cash flow from lenders since last October. Part of what drives these changes is the price of oil. So what else is new? Oil has an effect on everything from the stock market, to the price of airline tickets, to the kind of car we drive. I contend that when the housing market picks up to full steam again, that not even the price of oil will be able to stop these next sellers in the market. People have just become so savvy since the significant period of real estate boom we just saw the last 2 years.
But the interest rate one month prior was 6.17. So, why does the rate falling from 6.38 to 6.34 in one week matter?
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Anonymous |
10:48 AM