Jan
22

Houses for Nothing

According to CoreLogic, house prices rose 7.4% for the 12 months ending 11/12 (6.7% excluding short sales), the best numbers since 5/06! With 30-year mortgage rates at 3.4%, this means that the real cost of financing a home is NEGATIVE 4%! That’s like getting paid 4%/year to buy a house. As a result, it’s not at all surprising that existing home sales and new residential construction are rapidly improving.

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Comments

  1. Daniel Brown says:

    Obviously, this is true ONLY IF the rates & current appreciation remain as they are.

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  1. […] According to CoreLogic, house prices rose 7.4% for the 12 months ending 11/12 (6.7% excluding short sales), the best numbers since 5/06! With 30-year mortgage rates at 3.4%, this means that the real cost […]

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