Below are excerpts taken from a great source article which shed some positive light or prognosis on the US housing market for summer 2010:
Europe just delivered the U.S. housing market a pleasant surprise for summer. Thanks to the financial chaos across the pond, experts are forecasting that mortgage rates may fall to 4.5 percent over the next few months, rather than shoot up to 6 percent, as previously predicted.
Amid concerns about the global economy, America is looking like a safe bet in terms of investment. The rates on the bonds decrease when there is more investment; when Treasury bonds drop, so do mortgage rates.
Mortgage rates declined this week, upending predictions that rates already had hit rock-bottom and would be increasing again as the Federal Reserve's mortgage-securities purchase program ended. The reason: Investors from around the world who are finding refuge in U.S. Treasury bonds.
Not everyone believes the lower rates will boost the number of home sales. Unemployment remains high, and qualifying for a mortgage is not as easy as it once was. Nevertheless, the low rates and large number of homes for sale scream opportunity for buyers.
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