Mortgage Blog

One person's loss, another's gain

January 27th, 2011 7:20 AM by Eric Fang

It's not that bad when the interest rate is higher.
Remember I posted the blog before Christmas saying
that if the interest rate is 1% higher, the house
price should be down 10% to make the mortgage
payment the same? Not sure whether it's true or not,
but most of my buyers are getting very good price
this year, already 5% to 10% discount of same time
last year's price.

And seems like 2011 is a year of purchase. Seems like
the transaction is very active now. We saw more than
10 transactions onging with another 20 pre-approved
letters out.

Good luck, home buyers.  And don't forget to
check the following links.

1)Home Buyer's Corner.

2)Sample Closing Costs

3)The Loan Process

Posted in:General
Posted by Eric Fang on January 27th, 2011 7:20 AM



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