January 18th, 2008 | by kevinboer |
Friday, January 11, 2008
Lower those rates!
Jan. 11, 2008
If economic activity slows enough to see 5% or lower rates for a 30 year fixed loan the housing market may find new wind by this spring. The affordability index for many areas of San Diego County and Southern CA is rising as prices sink. Higher priced areas are seeing 9-12% while more affordable and mid-priced areas are seeing affordability rates of 20% and higher. The affordability index is the percent of buyers that can afford a median priced home in any given market segment. Historically the overall affordability index needs to be above 20% for the market to be healthy.
