Could rising mortgage rates be good for housing?
Source: http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=1&id=349962
NEW YORK – March 22, 2017 – The Federal Reserve is finally taking more action to raise its short-term rates. Last week, it voted to raise the Fed funds rate by 25 basis points. That is expected to add pressure to mortgage rates, too. Many housing analysts fear that rising mortgage rates could further impact home affordability and lead home buyers to pause.
However, Rick Sharga, executive vice president of Ten-X and former senior vice president at RealtyTrac, disagrees. He thinks the rise in mortgage rates could prove to be a good thing for the housing market.
He argues that it will cause buyers to get off the fence faster and move into the market sooner – before rates go any higher. He expects that to help increase home sales in 2017.
Sharga also believes higher rates will cause lenders to loosen some of the tight underwriting standards that have plagued the housing market the last few years and prevented many would-be borrowers from moving forward.
“This will happen partly just due to higher mortgage interest rates, which will provide a bit of a cushion for lenders to take on a little more risk,” Sharga writes in a recent column. “And higher rates will also drastically reduce the number of refinance loans being issued, which lenders will try to offset by doing more purchase loans.”
Sharga thinks the Fed’s recent 25-basis-point hike may not actually have a big an impact on mortgage rates.
“The 25-basis-point hike was well within the range that most industry analysts had expected, which means it’s possible that this hike won’t cause mortgage rates to rise significantly from current levels, which are already the highest they’ve been in years,” Sharga notes.
Source: “Why Rising Federal Funds Rate Might Be Good for the Housing Market,” HousingWire (March 16, 2017)
Precautions: Before taking vardenafil, tell your spegeneric cialis in australia t or drug speviagrat your medicinal history, particularly of: heart issues, (for example, heart assault or life-debilitating sporadic pulse in the previous 6 months, midsection torment/angina, heart disappointment), stroke in the previous 6 months, kidney infection (dialysis), liver sickness, high or low circulatory strain, an extreme loss of body water (dehydration), history of painful/prolonged erection , eye problems (such as retinitis pigmentosa, sudden decreased vision, NAION),. According to a cheapest tadalafil online http://deeprootsmag.org/2012/09/07/much-more-to-come/ study funded by the manufacturers. To tadalafil pharmacy treat any sort of wellbeing issue, medicinal treatment is required. The working time of Kamagra jelly is 4 to 6 sildenafil rx hours even sometimes more.
© Copyright 2017 INFORMATION, INC. Bethesda, MD (301) 215-4688
About Empire Appraisal Group, Inc.
Establish in 2005, Empire Appraisal Group, Inc., is Broward County’s leading residential appraisal company as a result of their accurate and reliable appraisals, excellent customer service, and quick turn times. When working with an appraiser, integrity and professionalism are essential, and Empire Appraisal Group has a well-established reputation for providing the best appraisal experience. Daniel Lindeman, the Chief Appraiser, is considered one of the top property appraisers in Florida, with nearly 15 years of expertise and 7,000+ appraisals to his credit.
We ‘specialize’ in helping people who need appraisals for estate purposes, divorce, bankruptcy, FSBO’s and more.
We also work closely with realtors to help establish listing prices, these pre-listing appraisals ensures sellers get top dollar for their home.
In addition, to homes of all shapes and sizes, we also appraise condos, multifamily homes, boat docks, land, as well as specialty properties. No job is too big or too small, from manufactured homes to mansions.
Call Empire Appraisal Group directly with any questions concerning your real estate values at 561-441-9298. Also, check out our ‘Reviews’ page and see what others are saying about Daniel Lindeman and Empire Appraisal Group, Inc.
We provide residential appraisal services to all cities in Broward County: Parkland, Coral Springs, Coconut Creek, Dania Beach, Cooper City, Davie, Deerfield Beach, Fort Lauderdale, Sunrise, Hallandale Beach, Hillsboro Beach, Hollywood, Lauderdale by the Sea, Lauderdale Lakes, Lauderhill, Lighthouse Point, Margate, Miramar, North Lauderdale, Oakland Park, Pembroke Pines, Plantation, Pompano Beach, Sea Ranch Lakes, Tamarac, Weston, Wilton Manors.