Low or falling mortgage interest rates are better for housing costs than high or rising rates. From a consumers point of view, higher interest rates are bad because borrowing money becomes more expensive. All things being equal, higher mortgage interest rates make for a higher cost of ownership and visa versa. When actively looking to purchase a home, shopping around for the lowest rate can save thousands of dollars over the life of the loan. The Consumer Financial Protection Bureau launched a Rate Checker to help consumers verify if the rate they are quoted is good or not. Since rising mortgage interest rates makes borrowing more expensive, it's also detrimental to home prices, so nobody in real estate relishes the…[READ MORE]

The American Dream used to symbolize the rewards from hard work and sacrifice. During the housing mania, it became associated with conspicuous consumption, sloth, immediate gratification, and entitlement. Repost from OC Housing News 2011-2016 The American Dream? Many people want to immigrate to the United States so they too can have a chance at obtaining the American Dream. Can you imagine the stories that recent immigrants must have relayed to those in the “old country” when the housing boom was going on? How do you explain to someone who comes from a stable (or practically non-existent) housing finance system that doesn’t “innovate” what went on in America in 2004, 2005, and 2006? Immigrant: “In America, they will give you a house…[READ MORE]

Low or falling mortgage interest rates are better for housing costs than high or rising rates. From a consumers point of view, higher interest rates are bad because borrowing money becomes more expensive. All things being equal, higher mortgage interest rates make for a higher cost of ownership and visa versa. When actively looking to purchase a home, shopping around for the lowest rate can save thousands of dollars over the life of the loan. The Consumer Financial Protection Bureau launched a Rate Checker to help consumers verify if the rate they are quoted is good or not. Since rising mortgage interest rates makes borrowing more expensive, it's also detrimental to home prices, so nobody in real estate relishes the…[READ MORE]

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