my key observation that we again are hearing about how the fiscal cliff will really hit our pocket book. Yet, this has gotten to be well stated(just hope they get it resolved).
Yet the message to be noted is:
In short, we don't see mortgage financing becoming meaningfully cheaper, even though rates have eased a few basis points each week for the past month. In fact, mortgages could become more expensive in 2013.
This statement comes after a lengthy dialogue on housing market and controls on mortgage financing. Though the housing market improves monthly, it may not be long that mortgage rates will begin to make "housing more expensive". Yet, I don't expect that to dampen the pent up demand for homes that has formed over the past six years of caution among home buyers and sellers.
But again, the fiscal cliff's resulting higher taxes could no doubt take the "marginal" buyer out of the market due to tighter finances.
Thoughts???? What are your plans in 2013?