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Home Shoppers Respond to Looming Mortgage Rate Increases

By Implode-Explode Heavy Industries

``Agents said the belief that mortgage rates will begin to rise from historically low levels has created a sense of urgency in buyers. In Seattle, one agent noted, ?Uptick in optimism; fence-sitters are concerned about possible rate increases, and less concerned about falling home prices.? But those prospective homebuyers are finding it difficult to take advantage of the low mortgage rates. In Chicago, agents reported a difficult lending environment. ?There is a lack of mortgage availability,? one agent said.''

Full post as published by Mortgage Lender Implode-o-Meter on February 09, 2011 (boomark / email).