Wow!! It’s almost the end of January and boy did it fly by. Since the beginning of the year, the rates have been going up. In November of 2010, the 30 year fixed loans were at a 40 year low of 4.17% the 15 year rate was 3.57%. Now it’s at 4.8% and the 15 year rate is 4.09%. I don’t think we will ever see the November rates ever again. There will probably be less borrowing, in 2011, due to the economic conditions.
So what do you think prices of homes will do? Well, most of the country will continue to see declines or stablize in prices except for 10 cities. Unfortunately, Florida and parts of the Western parts of the US will see the largest drops in home values.
- Foreclosures Poised to Rise in 2011 (time.com)
- 2011 to top 2010 record of 1 million foreclosures (thenewstribune.com)
- Over 1 million Americans seen losing homes in 2011 (boston.com)
- Happy 2011! (penn-olson.com)
- Tough Times Ahead for Florida (unreasonablefaith.com)
- 1 million homes repossessed in 2010 — 2011 will be worse (thegrio.com)
- What’s Ahead in B2B Selling for 2011? (davesteinsblog.esresearch.com)
- House prices continue to drop (lv.com)