Tag Archive | “historically high home affordability”

An Upturn in Housing Driven by Current Mortgage Rates

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Over the past couple of months the housing data that has been released suggests that a housing recovery is near or it may be said that it is already underway. A “perfect storm” for a housing turn around has been created by the combination of low current mortgage rates along with historically high home affordability and the first-time home buyer tax credit of $8,000.

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Housing sales are increasing, the price of homes has been at the rise in the past five months in a row and for both new home and existing homes the supply of homes for sale are down. Here you should keep in mind that this improved housing data is occurring during a recession, raising unemployment and a slight uptick in mortgage rates in the past few weeks, there are even more reason to presume that a turn around has started.

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September 2011
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