Interest rates are on the rise!
Published by sandytd June 19th, 2008 in Real Estate Information, Long Beach Real Estate, Interest rates. by sandytd Tags: interest rates, mortgage rates, real estate.
If you have been watching the interest rates lately, you have noted that they have been gradually creeping up. We did have a 1/4 point drop on Tuesday, but, by and large, rates have been on a consistent climb. As Laurie Manny has said, “Cheap rates may be a thing of the past” see http://www.longbeachrealestatehome.com/real-estate/Long-Beach-Mortgage-Information
Even with the new jumbo FHA, we are seeing buyers who just cannot qualify due to the interest rates.
If you or one of your friends are one of those who have been waiting to see the market “turn”, you might take note. The number of sales has been rising and the number of multiple offers is high and rates are rising. Sounds like a combination to push the prices up!!
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