Interest Rates Rise for Third Straight Week

Freddie Mac posted an interesting article about rising interest rates yesterday. After hitting historic lows three weeks ago, rates have risen steadily since. If this trend continues it will both decrease buying power, and negatively impact prices. The rise has been small to date, but it is still worth watching as this could signal an optimum time to buy. We have seen rising prices lately without the normally corresponding rise in volume, rising interest rates could impact both prices and volume and drive us back into recession. Only time will tell, but if your on the fence about buying keep a sharp eye on four things: prices (rising lately, but on weak volume), volume (rising volume will lead to steeper price increases), interest rates (lower is healthier for the housing market), inventory (kind of the inverse of volume) lower inventory can equate price wise to higher volume. Once we see the right combination of these factors, it will indicate that the bottom was reached and the market is ascending, and you have misstimed the market if you were waiting to buy. If we see the wrong combination of factors, we will go right back to a recession in the housing market; if not a depression. Click on the link below for the Freddie Mac article.

http://freddiemac.mediaroom.com/index.php?s=12329&item=131604

Tom Brady SFR, e-PRO, SRES, GREEN, BPOR
Licensed Real Estate Salesperson
Notary Public, Retired N.Y.P.D. Lt.
631-682-8660
Tom@BradyFamilyRealty.com
www.BradyFamilyRealty.com
"We treat you like family!"
Charles Rutenberg Realty, Inc.
255 Executive Drive - Suite 104
Plainview, New York 11803

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