Mortgages Are Cheap But Shoppers Arent Splurging

Dated: May 19 2014

Views: 463

Market Watch is reporting something that we've been covering here at HousingWire -- despite mortgage rates being at the lowest point in 2014, home shoppers aren't buying.
Low mortgage rates have cut the cost of borrowing, driving down the interest that Americans pay on home loans to the slowest pace in almost 14 years. But that doesn’t mean that families are splurging. And despite a run-up in home prices over the past year, few are pulling cash out of their homes and credit-card debt is continuing to tumble.

Memories of the financial meltdown may be haunting some consumers, including those who have managed to refinance into cheaper loans. And then there’s the labor market, which is adding jobs too slowly to inspire much confidence in workers or to make a substantial dent in the share of long-term jobless workers. Read More Here...
cb
Blog author image

Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 30 years in the industry, Mark has gained experience in ....

Latest Blog Posts

Why Fall Is A Great Time To Plant In Oregon Gardens

Come spring, excited gardeners drive to nurseries, load up their cars and go home to plant. That’s tradition. But fall planting also ranks high as a time to put plants in the ground.Nurseries may

Read More

Fannie Mae Cuts Origination Forecast For 2022

Limited inventory, supply chain disruptions and concerns about inflation have led economists at Fannie Mae to lower their mortgage origination forecasts for the remainder of this year and into 2022

Read More

How Long Does A Home Seller Have To Respond To An Offer

When you make an offer on a house, you might be wondering: How long does it take a home seller to respond to your offer?There’s nothing worse than sitting around waiting—especially when you’re

Read More

Forbearance Numbers Fall As Borrower Exits Remain High

Servicers’ forbearance portfolio volume fell once again last week, as exits remained elevated compared to requests or re-entries. The total number of loans in forbearance dropped by eight basis

Read More