Quick Take: How Fast Will Housing Prices Really Fall? - 2007-03-09
The reasons behind the recently finished boom in housing prices weren't a big mystery. Even with the dot-com crash, the U.S. has only had a few recessionary quarters since 1991. No wonder former Fed chief Alan Greenspan is talking about going back to "normal" business cycles. A lot of money came out of the stock market after the crash, and much of it ended up in housing.
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30-year mortgage rates decline - 2007-03-09
Rates on 30-year mortgages dropped to the lowest level since mid-December as investors scrambled to the safety of bonds after last week's stock market turmoil.
Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.14 percent this week, less than the 6.18 percent from last week.
The decline pushed 30-year rates down to the lowest point since they averaged 6.13 percent the week of Dec. 21.
Read the full story at Monterey County Herald