General Lending Environment Trends; July Events; What's Moving Rates?

Posted To: Pipeline Press

I don't think that my cat Myrtle has been asked any survey questions by any pollsters. (If she has, she hasn't mentioned it, and if she was, I know exactly what her response would be, which would be to ignore the question.) But plenty of people out there feel compelled to answer, and in this case answered survey questions from Redfin about the impact of interest rates on potential homebuyers proving what many LOs know: a good school district for their kids trumps a slightly higher, tax-deductible mortgage payment. The Redfin survey (of more than 4,000 people) showed that, of the respondents who planned to buy a home in the coming year, only 5% said they'd call off their search if rates rose above 5%. And twenty-four percent of buyers said such an increase would have no impact on...(read more)

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from Mortgage News Daily https://ift.tt/2KzoEH1