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Mortgage rates edged higher again this week the latest read on Freddie -- thirty year fixed mortgage is three point 98%.
That is up from.
Three point 91%.
With interest rates moving higher the housing recovery could be in danger but Fox News contributor and real estate -- -- Bob -- says that's not the case because.
People will still want to mind.
People who lost everything and are able to qualify for a loan.
They'll be willing to pay that 4% because -- thinking back 567 years ago as to what they were paying.
With interest only loan so I really think that if the availability is there and they qualify for the loan I think they'll still get into -- they want to own home.
Rising interest rates -- the only issue though availability of homes for sale could be a problem for future buyers as well.
The inventories very bad as a matter of fact in Las Vegas in Florida.
The the hedge funds are buying everything if you wanted to go buy a home right now on base let's say you're not going to be able to buy -- it's a newly built home.
But to go by the short sell properties will -- -- they are real property goes state owned properties by the lenders hedge funds Canadians -- nations they are buying everything in droves.
And those hedge funds are making some money buying up the houses and charging a higher price because they know that people will want to upload again.
As for the housing market as a whole -- he says things are getting better.
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