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 sayingthat if the interest rate is 1% higher, the houseprice 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 pricethis year, already 5% to 10% discount of same timelast year's price.
And seems like 2011 is a year of purchase. Seems likethe transaction is very active now. We saw more than10 transactions onging with another 20 pre-approvedletters 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