Triangle Business Today

Charlotte, Raleigh finish 1-2 for growth

Posted April 10, 2012

Mortgage rates have dipped again, thanks totreasuries moving below 2 percent for the first time since March 12. This decrease is welcome news for Triangle housing, as each day we trend south means stronger economic fundamentals for the housing market.

Domestic and global concerns remain in the spotlight, and while trying not to sound like a broken record, as long as there is uncertainty both here at home and abroad, we’re likely to maintain this downward pressure on yields and mortgage rates.

Good news for the long-term economic health of both the Triangle and North Carolina.

According to a report out by CNN Money, Raleigh was the second fastest growing city in the US last decade, increasing numbers by almost 64 percent from years 2000-2010. The No. 1 fastest growing city: Charlotte. Well done North Carolina! Assuming these strong fundamentals continue to mature, we should be in for another successful decade! Great news for Triangle jobs and great news for Triangle housing!

1 Comment

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  • dlcarrolwral Apr 10, 2012

    With respect, this is bad. All the lower rates will succeed in doing is pulling in demand enough to maintain. When the rates rise, we'll be back in foreclosure territory and the developers will still be over-extended. We're growing precisely because people are leaving over-priced areas of economic devastation caused by policies like this.

About this Blog:

Jeremy Salemson, CEO of Corporate Investors Mortgage Group, blogs about economic trends and data and their impact on Triangle business. Each week, he interviews a Triangle-area business leader for a personal look at the local economy.