Wednesday, May 16, 2007

NAR expects "soft landing" for real estate market

We keep hearing that term ... "soft landing" ...

"The NATIONAL ASSOCIATION OF REALTORS® still expects more than 6 million existing-home sales in 2007, but stricter lending standards and a decline in subprime mortgage origination have contributed to somewhat lowered expectations compared with earlier forecasts, according to the latest projections from NAR."

And, what is forecasted for interest rates?

"The 30-year fixed-rate mortgage should rise slowly to 6.5 percent by the fourth quarter, NAR predicts. Last week, Freddie Mac reported the 30-year rate was 6.16 percent."

To read more, go here: National Association of Realtors

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