Loan Think

Rock Bottom Rates But No Job

The irony of it all: mortgage rates have fallen to the lowest level on record, giving consumers a new incentive to buy a home or refinance. But wait. There's a catch: first, you must be employed to get a mortgage (or refi). And if you have a job, the next question you need to ask is the scary one: "Will I have a job, three-, six-, 12 months down the road?" And currently, real estate experts and analysts are trying to figure out if home prices have hit bottom. Some say yes, some say no. What's a consumer to do, but sit on the sidelines and wait it out until they see a clear signal on where prices are headed. Meanwhile, several lenders were writing new loans like crazy in May and early June. But come September...

Processing Content

For reprint and licensing requests for this article, click here.
MORE FROM NATIONAL MORTGAGE NEWS
Load More