Monday, May 22, 2006

Immediate threat of 7% mortgage rate disappears

Mortgage rates have defied the predictions of those who believed they would be higher than they currently are after the Fed interest rate run-up of the last several months. That being said, while higher rates comprise just one of the factors that has taken some of the steam out of investors in the mid-range, most of the high-end investors don't care. They want what they want when they want it, and many high-end purchases don't need mortgages.

The following article is from Lou Barnes. He sees the skittishness of the markets, including mortgage interest rates, as being due to the many contradicting data points that have come out in recent weeks. md

Inman Real Estate News - Immediate threat of 7% mortgage rate disappears