A matter of increasing mortgage loan interest - 2005-04-04
The bad news about higher interest rates is that some home buyers will have to settle for less house. The good news, say economists, Realtors and home builders, is that rates are so low now that even a 1- or 2-point increase on a 30-year, fixed-rate mortgage won't likely derail Southwest Florida's charging housing market.
"I remember 10 years ago, if you told me mortgage rates were going to be 6.7 percent I would have said that's not bad," declared Larry Lieberman, principal owner of Barrington Group Inc.
Read the full story at Sarasota Herald-Tribune