But buyers panic easily and the thought of
higher mortgage rates combined with higher down payments (set to take effect on Feb. 15, 2016) might cause them to rush in to the market and cause a minor sales frenzy.
But buyers panic easily and the thought of
higher mortgage rates combined with higher down payments (set to take effect on Feb. 15, 2016) might cause them to rush in to the market and cause a minor sales frenzy.
Not exact matches
The three events
combined,
higher rates giving borrowers lower benefits on any reverse
mortgage that they may seek; an existing HELOC that enters a reset and repayment period (also at a probable
higher than current
rate) and the fact that replacement HELOCs are more difficult to obtain with current underwriting standards could wreak havoc on unprepared borrowers» finances.
Despite recent concerns about Canadians»
high personal debt and rising interest
rates, Sal Guatieri, a senior economist at BMO Capital Markets, told Bloomberg that «
mortgage rates are still near historical lows and this,
combined with an expected cooling in house prices, will help support affordability for Canadians.»
By
combining all the
high interest debt into one low interest second
mortgage the interest
rate can be cut in half.
Less foreclosures, less homes underwater, less homes on the market, and attractive
mortgage interest
rates have all
combined to push home values nicely
higher
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These factors
combined with
higher trend
rates of inflation should result in a pronounced upward trend in
mortgage financing costs.»
You could also refinance to
combine a first and second
mortgage into one first - lien
mortgage - and eliminate the
higher rate you may be paying on your second
mortgage.
However, those gains are not likely to be
higher than the
combined effect of
higher prices and
higher mortgage rates.»
«The healthiest job market since the Great Recession and the anticipation of some buyers to close on a home before
mortgage rates accurately rose from their historically low level have
combined to drive sales
higher in recent months,» says Lawrence Yun, NAR chief economist.
While they are not as
high as they were at this point last year, the
higher rates combined with concerns in the housing market and the fallout from the sub-prime
mortgage market have
combined to hit real estate values.
«However,
higher mortgage rates and home prices
combined with record low inventory levels stunted sales in much of the country in December.
Among those forces were the baby boom, in which post-World War II babies matured and entered the housing market; deregulation of the
mortgage finance industry, which gave lenders the freedom to offer a wide variety of loans, and a
high inflation
rate that
combined with soaring housing prices to convince consumers that home ownership was safe and sure.