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To: andiron who wrote (91135)12/3/2008 6:05:20 PM
From: stockfiend  Read Replies (1) | Respond to of 116555
 
IMO it's time to buy houses, at least in areas where prices have fallen back to their historical 3-4x income and 1x rental ratios. A 4.5% rate will push marginal buyers out of their rentals and back into the housing market. Assuming there are any marginal buyers left.



To: andiron who wrote (91135)12/3/2008 6:10:11 PM
From: Sr K  Read Replies (2) | Respond to of 116555
 
>>That is ~20% reduction in mo payment <<

A reduction to 4.50% from 5.50% on a 30-year fixed-rate mortgage lowers the payments 10.76%. For example, on $150,000 from $851.68 to $760.03


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