Posts Tagged ‘buyers’

10 things to know about real estate in 2010

Saturday, February 20th, 2010

this is a post about an article i’ve been sitting on for a couple of months but i think it is as applicable today as it was when it came out at the end of last year. the article, courtesy of u.s. news, describes 10 things to look for in the real estate market in 2010. here they are;

1. prices to bottom
2. mortgage delinquencies up
3. foreclosures move upstream
4. mortgage rates to rise
5. buyer’s market remains
6. modification plan could be modified
7. FHA lending standards may increase
8. tax credit available through june
9. markets will vary a great deal by region
10. mobile maps can help

the most interesting item to me is item #4, mortgage rates to rise. mike larson of weiss research states that because of “the unwinding of this Fed program, the improving economy, and mounting concern over government deficits could push rates on 30-year, fixed mortgages to roughly 5.5 percent by mid-2010 and close to 6 percent by the end of the year, almost all signs to me point higher.” this is a great reason, along with item #8, tax credit available through june,  to consider purchasing a home in the next couple of months. you can read the full article by clicking here.

if you need assistance with any part of the home buying process, including finding a great lender, feel free to email me at david@residerealestate.com.