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Although I’m not predicting it, I wouldn’t be surprised if rates on a 30 year fixed went up to 8% by the end of 2010. As rates go up, fewer people will be able to afford loans, and housing prices will remain stagnant.
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Well higher interest rates and same housing prices(kind of impossible) – at least in San Diego high priced areas is unlikely. Guess what!! a 600K house with 4.5% mortgage a few can look or a couple may go for buy now,, but with 8% none even think about this prices range, except Rich – but economy wouldn’t built with Rich in general.
