WASHINGTON – The summer's trend of rising home prices faded at the end of the traditional home shopping season, two reports Tuesday showed.The Standard & Poor's/Case-Shiller home price index of 20 major cities rose only 0.3 percent to 144.96 in September, but it was the fourth straight monthly increase. The seasonally adjusted index is now up more than 3 percent from its bottom in May, but still 30 percent below its peak in April 2006.Another reading of home prices by the Federal Housing Finance Agency held steady from August to September.
Analysts expect prices to dip again this winter as foreclosures increase and economic growth remains modest. The government said Tuesday that the economy grew at a 2.8 percent rate last quarter _ less than originally estimated. And forecasts for the next several months are no better. Unemployment, meanwhile, could rise from the current 10.2 percent to as high as 11 percent next year. .... Associated Press
Is that news making any sense? Are you going to get home refinance by September as the home price will increase or you just want to do it during summer? If you are going to have more money, better to remorgage when the price is high.
People will have mortgage when they own a property. For first home, I don't agree if we decide to refinance the house. Re morgage our home will basically will make us pay more for the value, but many of us refinancing our house to settle debts or perhaps to get capital for start up a business.
Hopefully I’m going to get mortage or perhaps mortgages in 2010 (wish me luck). I ‘ll pray that the economy will boost up next year. Currently I’ve already got a home loan but due to technical problem, I’m gonna let it off (means the home loan and the house! – it’s personal).
Anyway, hope everything will be better next year. Amin.
No comments:
Post a Comment