Low Mortgage Rates will help balance housing market
~ and keep Spring home buyers happy
March 24, 2015
Lower mortgage rates will help buyers looking for homes this Spring. Despite all the 2014 news about surplus in homes for sale, Realtor.com reports that going into January, there were 9% fewer homes on the market than the year before. In fact, Spring buyers are faced rising home pricing and decreased inventory. However, the good news is lower mortgage rates will help offset some of those recent increases in house prices and keep the homebuyer affordability high. Leonard Kiefer, the deputy chief economist at Freddie Mac, also predicts that mortgage rates will not be increasing much in 2015 and remains optimistic about the course of domestic U.S. economy over the next year.
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