{"id":7030,"date":"2014-10-14T14:04:26","date_gmt":"2014-10-14T14:04:26","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=7030"},"modified":"2014-10-14T14:04:26","modified_gmt":"2014-10-14T14:04:26","slug":"low-rates-arent-enough-buyers","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/low-rates-arent-enough-buyers\/","title":{"rendered":"Low Rates Aren’t Enough for Buyers"},"content":{"rendered":"

Low Rates Aren’t Enough for Buyers\\<\/h2>\n
\"Low<\/a>

Low Rates Aren’t Enough for Buyers. Image courtesy of Stuart Miles \/ FreeDigitalPhotos.net<\/p><\/div>\n

Federal Reserve Chair Janet Yellen and housing forecaster Robert Shiller said earlier this year that they expected low rates to serve as a stimulus to home buying this year.<\/p>\n

Freddie Mac reported the 30-year fixed-rate mortgage dropped to 4.12 percent for the week ending Oct. 9<\/a>, near the lowest average rate of the year. The rate is far less than a 20-year mean of more than 6 percent for the 30-year fixed-rate mortgage. Yet mortgage rates hovering near annual lows for the past few weeks have not spurred the market. What’s going on?<\/p>\n

However, home sales are facing major challenges that even low borrowing costs can\u2019t help. The Wall Street Journal explains that 2014 home sales \u201chave been hit by poor weather, a low number of homes available for sale, and tight credit.\u201d Also, the most popular home sales season\u2014typically the spring and summer\u2014has already come to an end.<\/p>\n

\u201cFamilies buying houses need to be done with that by the time that school starts,\u201d says Guy Cecala, publisher of Inside Mortgage Finance. \u201cRates have been hovering around 4 percent for the better part of the peak home-buying season. I don\u2019t think anybody has been sitting on the sidelines, waiting for rates to drop.\u201d<\/p>\n

Second, high credit standards in the wake of the financial crisis are still preventing many would-be buyers from getting a loan and taking advantage of the low rates.<\/p>\n

\u201cRight now the real issue isn\u2019t the price of credit, it\u2019s more the availability,\u201d says Robert Denk, an economist with the National Association of Home Builders. Eighty three percent of homebuilders recently surveyed by NAHB say they have lost sales over the last six months due to buyers not qualifying for a mortgage. Tight credit has resulted in about 18,700 new-home sales lost<\/a>, NAHB estimates.<\/p>\n

Source: \u201cHousing Needs More Than Mortgage Rates of 4%-ish to Boom<\/a>,\u201d The Wall Street Journal (Oct. 9, 2014)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Low Rates Aren’t Enough for Buyers\\ Federal Reserve Chair Janet Yellen and housing forecaster Robert Shiller said earlier this year that they expected low rates to serve as a stimulus to home buying this year. Freddie Mac reported the 30-year fixed-rate mortgage dropped to 4.12 percent for the week ending Oct. 9, near the lowest … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-7030","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nLow Rates Aren't Enough for Buyers - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.anthonydidonato.net\/wordpress\/low-rates-arent-enough-buyers\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/low-rates-arent-enough-buyers\\\/#article\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/low-rates-arent-enough-buyers\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Low Rates Aren’t Enough for Buyers\",\"datePublished\":\"2014-10-14T14:04:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/low-rates-arent-enough-buyers\\\/\"},\"wordCount\":348,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/low-rates-arent-enough-buyers\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2014\\\/10\\\/ID-100259484.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/low-rates-arent-enough-buyers\\\/\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/low-rates-arent-enough-buyers\\\/\",\"name\":\"Low Rates Aren't Enough for Buyers - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/low-rates-arent-enough-buyers\\\/#primaryimage\"},\"image\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/low-rates-arent-enough-buyers\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2014\\\/10\\\/ID-100259484.jpg\",\"datePublished\":\"2014-10-14T14:04:26+00:00\",\"breadcrumb\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/low-rates-arent-enough-buyers\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/low-rates-arent-enough-buyers\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/low-rates-arent-enough-buyers\\\/#primaryimage\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2014\\\/10\\\/ID-100259484.jpg\",\"contentUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2014\\\/10\\\/ID-100259484.jpg\",\"width\":400,\"height\":363,\"caption\":\"Low Rates Aren't Enough for Buyers. 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