Negative equity props up home prices in toughest markets

By
Mortgage and Lending NMLS 291249

DailyMORTGAGE LOCK ADVISORY 

June 12, 2012, 6:45am PST

Click for Lock Advice Updated Several Times Daily

      

7 day Mortgage Interest Rate lock or Float Advice: LOCK
Mortgage Points based on 3.5% Mortgage Backed Securities are up 0.15 point.


30 Day Mortgage Interest Rate Lock or Float Advice: LOCK.

Rates could easily move higher or lower, but given the nearness to all time lows, there's generally more risk than reward regarding floating so my advice is to lock.

 

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MORTGAGE NEWS BRIEFS
 

CoreLogic: Negative equity props up home prices in toughest markets
The negative equity problem may actually be pushing up home prices at the bottom of some of the hardest-hit housing markets, according to a report from CoreLogic ($17.05 0%). The national supply of unsold homes dropped to 6... Read More Housing Wire 
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Rainmaker
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Jeffrey DiMuria 321.223.6253 www.SpaceCoastHomesNow.com
Fontaine Property Group - Melbourne, FL
Your Space Coast Real Estate Expert!

this is a great point. I do think some people see the market improving and they are less likely to sell (they see the light at the end of the tunnel). I think if you were going to walk away you would probably have done it by now.

That shrinks the pool of homes that can be sold...driving up prices on those that can.

Jun 12, 2012 07:04 AM #1
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Rainmaker
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Bill Ladewig

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