Last Friday, Bill Emerson, our beloved CEO, appeared on CNBC’s “Squawk Box” to discuss the current housing marking, mortgage rates and what’s expected to happen in the near future.
The news is mixed.
People are still nervous about their jobs and the economy. Some people are still finding it difficult to qualify for a mortgage. And, home buying is down 16% year-over-year, largely due to a decline in first-time home buyers (which typically make up 40% of the marketplace, but are currently only 25%).
However, mortgage rates are down and home prices are steady and rising at a healthy rate. Rates on 30-year fixed-rate mortgages and 10-year adjustable rate mortgages are very good right now and offer a great opportunity for home buyers or those wanting to refinance to save some money.
So, please check out the video and let us know what think. Are you feeling optimistic about the economy? Any plans to buy or build a home? We’d love to read your comments.