Mortgage Rates Moving Up
Good opinion on why home mortgage rates have taken a huge jump up over the last week.
Fallout continues from the trouble at Fannie Mae and Freddie Mac. The national average rose to 6.71%. The real question is whether or not the rates will continue to rise or come back down, says Jim Jubak.
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Homes will always be unaffordable to the average person in high priced CA as long as government subsidize home owners in the form of mortgate tax deductions, and Fannie Mae bailouts. Remove the interest tax deduction and watch the prices correct 50%. This place a bottom on home prices and increase home ownership than further government meddling. The issue is affordability, not unemployment. Prices are still too high due to government tax policies and bad lending practices.
I think that in the long run, everything will probably be okay. The government will save us. Dentist in San Diego
Buying a home is a long term deal. I bought 10 years ago, value has doubled (a couple of years ago I could say tripled), and in 5 years house will be paid off. No more mortgage! Try that with a rental! Yeah… commute sucks. SF/Oakland Bay Area Lawyer