Mortgage Blog

Freddie Mac's published an article earlier this month pointing to the decline in mobility and now say existing home sales might not have much room for improvement.  Now the home buyers plan to stay at the home for about 15 years vs 9 years a few year back.  Economists still did not find out whether it is because the older people not likely to move, or it is not worth it to move to another city/state.

But Freddie Mac did say that the housing and economy head downhill, though the Fed is likely to increase the interest rates in Dec.

Fed watchers are concluding that a rate hike will come in December; worldwide economic growth is weak and appears likely to get worse.  The company's economists add, "We've been here before... last year."(And yes, Fed increased the Fed rate 0.25% last year)