Propery buying has been now gradualy decresed in the last six months since the ARP has gradually moved up and it seems that the prospective buyers have been waiting on rates to decrease.

Although you can still experience low rates being quoted on many website offering attractive numbers which then become big when you actually read the terms and conditions of the loan. Most of these numbers seem to be used as tool to attract a client and get the leads. Its similiar to when you get a call from a call center across the world saying “You have been approved for special financing” !! Ha Ha ha special financing !! forget it.

People hurt most with increase in APR are thos who bought property wince last 2 to 2 years with some kind of arm mortgage terms and now the bump in current market rate has forced them to re-think on their mortgage, also facing problem if they want to sell at market value. Few might have got rid by selling lower than market value as increase in APR directly increased their mortgage installment and threw them out of budget.

Well lets close our fingers and see how the market oes in next quarter else start planning for cutting your shopping budget this chrismas.