Interest Rates on the Rise, Again!

By
Real Estate Agent with Realty One Group

Wouldn't you know it, interest rates are on the rise again. I know that the Fed just cut rates and that it was a good thing, but, I keep trying to figure out for who? If they cut the rates again, what would be the outcome? Would we actually see the interest rates charged to our clients/buyers go down? Or am I being naive?

I like to think people are basically good. However, I wonder who is benefiting from the recent rate cuts? Is  greed at play here? 

I might be wrong, but, if this industry is going to get back on its feet the lenders are going to have to make some sort of push in the right direction. We can only do so much as REALTORS. We send our clients to Lenders and hope they qualify, and if they do we then hope they are actually getting a fair deal. Are they are educated on the loan and do they understand what they are signing? I would like to believe they do, or else we did not learn from our mistakes that got us all into this mess.

To me the Real Estate Industry and the Lending Industry have a symbiotic relationship, and when one fails, they both fail. When one succeeds, they both succeed. Only now I do not think the Real Estate Industry is succeeding, and the Lending Industry is starting to look a bit better. We need each other to survive, so I plead with the people who call the shots to give our buyers a break, and give our well qualified buyers a chance.

This was not intended to slam lenders Moreover, this is an offering of the olive branch to the powerful players in the lending world. Help us to help our clients, yours, ours, to live a part of the American Dream. Owning your own home, without fear of losing it later to a bad deal, or their oversight of the terms they agreed to.

This could also be extended to those who could help past clients who are living in fear of losing their current property. I wish that no one had to suffer hardship, but the world just does not work that way.

I just want to know that if it were me, I would want someone in my corner, someone I could depend on to lend a helping hand when I need it. I do not expect handouts, but a giving me break would be nice. It would be great if others could catch a break right now too. They actually need it.

In closing, this has been an opinion, and nothing more, do not take it to heart my friends. Especially the lenders, we may need to work together some day.

By the way here is an article that talks about the rise in 30 year mortgages.

 

http://news.yahoo.com/s/ap/20070927/ap_on_bi_ge/mortgage_rates;_ylt=AqLf0TvJNOLbuErkMmnauuFIOcEF

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the scissors to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Groups:
Mesa Arizona Real Estate Connection
Phoenix Arizona Real Estate Connection
Tags:
treasury
chairman
government
mortgage
interest rates
rate cuts
stocks
federal reserve
bernanke
rates
cut
real estate
market

Comments 1 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the tshirt to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Ambassador
872,043
Larry Bettag
Regional Vice-President
Larry Bettag - Cherry Creek Mortgage

Nice post...it'll be interesting to see.....only time will really tell.  Many believe taht we have a refi boom brewing as we speak.  Others think the way that you think.

September 28, 2007 12:16 AM
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the tshirt to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainer
38,497

Ulises Romo

Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the clock to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Additional Information

"Valley of the Sun Real Estate"