Quote:
Originally Posted by Discuss Thrower
Not that I think anyone will be buying houses who aren't already in the position where they are immune from the depression, but it's looking likely mortgage rates will go up as lenders raise minimum FICO scores and thus will need higher yields to meet the bottom line.
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Care to elaborate on this or link to any reasoning?
Wife and I are currently building a house. Two months ago I was thinking, "Great...market is doing well and we shouldn't have trouble selling current home AND interest rates are pretty damn low and not expected to rise much if at all."
In the past few weeks, rightly or wrongly I've thought that while I'm still not terribly worried about interest rates rising too much by the time our build is complete, I've started being a little less confident in the ease of selling our current home.
As it stands, construction hasn't slowed down and builder doesn't foresee much change in original timeline, which is targeted at a late October completion.