Bad market is positive for homebuyers
Posted August 4, 2011 4:18 p.m. EDT
Updated August 4, 2011 9:14 p.m. EDT
What an incredible week of movement we’ve had already!
The stock market, mortgage rates and Treasury yields are dropping like lead balloons. This unprecedented drop in interest rates and treasury yields has pushed us into new territory for the year in housing – both rates and yields reaching new low levels for 2011.
This is great news for those who are eligible to refinance – and even better news for those individuals who are currently shopping for a new home – making that new home as affordable as we’ve ever seen when you combine attractive home prices and current rate levels.