Source: The KCM Quick Report, February 2010
"If we look past just the price of a home, we know that the buyer will be concerned with its overall cost. We then realize how important the financing component is to the purchase.
Where are interest rates headed in 2010? Here is what people in the know are predicting:
HSH & Associates: rates will nudge closer to 6% than 5%
Moody's Economy.com: 6 percent that sounds about right
Washington Post: 6 percent by the end of 2010
Barry Habib of Mortgage Market Guide: It could be as high as 6.5%
Morgan Stanley: 7.5 percent to 8 percent"
How Interest Rates Affect Your Mortgage Payment
Article by Steve Harney, January 14, 2010
http://bit.ly/8PYAi6
Investigate your market for: # of homes on the market, days on the market, price adjustments over the past year, sale price to list price ratio, Federal Tax Credit for first time buyers and ALSO for repeat buyers. If you are thinking about buying or know of someone that may buy, send this blog post to them for their consideration. In my opinion, it is time to get off the fence!
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