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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Tradelite who wrote (86144)8/20/2007 7:32:41 AM
From: SnowshoeRead Replies (1) of 306849
 
>>here's what happens to a 30-year mortgage payment when prices fall 20 percent, but interest rates rise by 2 percentage points:<<

Two rebuttal points:

1) The extra time allows home buyers to accumulate more capital and achieve higher income levels, putting them in better financial position to assume the mortgage.

2) A lower purchase price and higher interest rate improves the odds of refinancing later to a lower rate.

snowshoe@delayedgratification.com
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