Moody’s Economy.com highlights the difference between the average interest rate consumers are paying on their outstanding mortgages and the prevailing rates on new loans: In a declining interest rate environment, such as we have seen for about the last 20 years, you would expect consumers to refinance repeatedly as the interest rates go down. Therefore, [...]
Tag Archives | Interest rates
Dismal: Higher rates could boost December sales
Could higher interest rates cause sales to go higher in December? Dismal Scientist suggests it may: Rising mortgage rates may paradoxically boost home sales by reminding potential buyers that the recent historically low rates will not last forever. The uptick could heighten the urgency for those near closing. Tentative signs suggest housing demand is improving; [...]
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