Mortgages Are Cheap But Shoppers Arent Splurging

Dated: May 19 2014

Views: 452

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...
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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 25+ years in the industry, Mark has gained experience in....

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