Barb Schlinker The Real Estate Voice

April 23-30 – Seg 2 – The Real Estate Bubble Myth – Debunked – Mortgage Interest Rates Rise – Will it Cool off the Market?719-301-3900  | Your Home Sold Guaranteed Realty ColoradoBarb, many people witnessed the mortgage meltdown of 2008-2011 and assume this current market is heading for another Real Estate Bubble.  What do you think the current market conditions will bring into the future and how will the rising interest rates affect this market?Mortgage Meltdown Facts: Buyers were getting loans they could NOT afforda. Going rate = 6.43%, Taking Teaser Rates of 1.0%b. Prices Rose Rapidly due to low payments andc. Buyers did NOT have to prove they qualified for the mortgage. Loans were sold as a stock/equity into retirement funds as a ‘good investment’e. Once rates are adjusted – people’s house payments DOUBLED overnight.What is Different Now? – Buyers Must BY LAW Qualify for those loans!a. Current Interest Rates STILL Below Long-Term Averagesb. Affordability is Actually MORE affordable than the peak of the 20