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Posts Tagged ‘mortgage interest rates’

Housing Crisis Disappearing

April 6th, 2009
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Home Sales in February are beginning to increase with foreclosure defaults supplying much of the housing inventory.  With mortgage interest rates below 5% on thirty-year fixed rate home loans have caused a spike in FHA mortgage lending and home buying for first time homebuyers.

 

Watch Housing Crisis Rebound Video

 

Despite an ongoing recession, dropping home sales and a foreclosure crisis, there are some indications that the housing market may be heading for a recovery. CBS News’ Priya David reports on some positive movement in Portland, Oregon that may reveal signs that the housing crisis could be disappearing.  Some realtors and lenders believe that we are seeing the bottom of the housing slump and that the real estate market in many areas around the country will see a rebound later this year and in 2010.

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