Home prices on a national level have tumbled more than 32 percent from the peak three years ago, according to Standard & Poor’s/Case-Shiller indexes.
“Prices continue to erode on a national level, and with the rest of the economy not doing well either and the jobless rate constantly increasing, we don’t see a recovery in housing on a national level coming soon,” Kevin Marshall, president of Clear Capital, based in Truckee, California, said this week.
“That doesn’t mean there aren’t values to be had out there,” he added.
According to the FreddieMac.com weekly mortgage rates survey, interest rates fell this week due to inflation numbers, which had been a concern, being lower than expected. Overall, unless you are extremely saving and know exactly how to play the mortgage market, rates bouncing around is not going to help you save money. It may actually cause you to lose money as the housing market continues to fall with the uncertainity of average mortgage rates. Home prices on a national level have tumbled more than 32 percent from the peak three years ago, according to Standard & Poor’s/Case-Shiller indexes.
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