Mortgage buyer Freddie Mac said Thursday that the average rate on 30-year loans ticked up to 3.34%, from last week's 3.32%. Two weeks ago, the rate dipped to 3.31%, lowest on records dating to 1971.
The average rate on 15-year fixed mortgages rose to 2.67% from 2.64% last week. The rate declined to 2.63% two weeks ago, also a record low.
Mortgage rates have been near record lows all year. That has helped fuel a modest housing recovery.
Sales of newly built and previously occupied homes are up from a year ago. Builders are more confident in the market and are responding by starting construction on more homes.
http://www.usatoday.com/story/money/business/2012/12/06/mortgage-rates/1750735/
回复
Yli33
2012-12-11 22:09
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It is difficult for Bank of Canada to raise its interest rates under a flat housing market.
回复 D.J：美国西班牙等国家,就是在历史最低的利息下,房地产蹦盘了?
你太想当然了.
In fact, these two countries lower their mortgages rates to record lows after the financial crisis.
http://ycharts.com/indicators/30_year_mortgage_rate
http://www.globalpropertyguide.com/Europe/Spain/Price-History
The cause of 美国房地产蹦盘 was the subprime mortgages, people had taken loans/mortgages with little money down. The interest rate was much higher during the period of 2006 to 2008, it was about 6% for a 30 years mortage.
In Canada, we have a more conservative lending system. If you do not believe, consult your banker to check out what is your minimum requirement for down payment.
Whether the housing market will crash or not depends on many factors such as:
Domestic factors:
Unemployment rates.
Lending policies include: debt-to-equity ratio, interest rate, and income requirement.
Commodities prices - inflation rates.
Supply and demand of the housing market include: rent to own ratio.
Government involvement include: immigration policy, tax levy, monitory policy, and mortgage policy.
International economic factors:
Return on investments - poor financial performance of other countries make Canada becomes the attractive one.
Foreign exchange rates.
Commodities prices - inflation rates.
I agree that if the lending policy is being too aggressive in Canada, it will increase the chance of financial crash. As the current situation, it seems to me the housing market is getting stable for residential properties.
Comment: 对牛弹琴.
回复 D.J：May be you are lucky, a lot of people get laid off in 2008/09. Just make sure you are not working in construction, finance or retail, if you lose you job because of the crash I am going to laugh. 😀
The biggest risk to Canada’s economic health is the United States plunging over the so-called "fiscal cliff," which would drag Canada close to a recession, Bank of Canada Governor Mark Carney warns.
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