Don’t count on it. Case in point, did you know that during the 2003 SARS epidemic, home prices in Hong Kong did not fall significantly. Sales volume, though, plunged by as much as 72% before returning to normal levels when the epidemic was contained.
My email was full of people asking about for 0% mortgages.Those buyers are in for a disappointment. The Fed’s rate is only loosely correlated to mortgage rates. In response to surging refinance applications, many banks have actually raised mortgage rates in recent weeks.
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