Rising mortgage rates are top concern for homebuyers
Housing prices are high, the supply of homes is low and credit is tight. But the No. 1 concern for potential home buyers is rising mortgage rates, according to a recent online survey by real estate research firm Trulia.
More than 40 percent of people who plan to eventually buy a home said they were worried about rising rates, followed by rising home prices and low inventory. Among those homeowners who were planning to buy a home within the next year, inventory just edged out rising rates, the survey said.
The 30-year fixed rate touched 4.5 percent last week, according to data from Freddie Mac, and there appears to be no turning back, economists say. If rates rise too fast, they have the potential to hurt the housing recovery by pricing buyers out of the market.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Stocks snap losing streak as ECB reveals stimulus start date
- Worker productivity falls faster than estimated; labor costs rise
- Cleveland district, including Pittsburgh, shows moderate economic growth in latest Beige Book report from Fed
- Esmark sues Slovakian businessman for $100M, alleges sabotaged deal
- Sales, profit rebound as American Eagle Outfitters returns to roots
- Exxon CEO: Low oil prices here to stay
- McDonald’s to ban chicken suppliers from antibiotics used in human medicine
- Mylan closes $5.3B tax-lowering deal with Abbott Labs
- Concurrent Technologies focuses on developing batteries for renewable energy, electric cars
- Impact fees garner support from state community leaders
- Stocks fall further from record highs