There is no denying the fact that the economic crisis created unprecedented difficulties in the housing market. Many homeowners are already upside down. Worse, the current mortgage market trends are not rosy and they are very disturbing.
Unusual Stabilization of Rates
You know already that the Federal Reserve dumped billions into mortgage which depressed the interest rates. However, all financial bail outs have stopped already. Experts expected that this will cause an unprecedented increase in mortgage interest rates. However, the contrary happened as the market saw a stabilization of interest rates. This is due to the low demand for new mortgages due to the continuing uncertainty of the economy.
