Good afternoon to everyone out there in Blogsylvania:
The confidence index came out for October today, and it has hit another record low. It had a slight heartbeat last month after the FNMA and Freddie Mac buys, but is back down.
They mentioned they had an increase in traffiv of their model homes but it has come to a screeching halt. Consumer fear, the market tanking further, and whatever else they could dig up, became the most recent reason.
Thirty year mortgage rates appear to have gone up from 5.94% to 6.47% last week. This is quite a jump at one time! This was the largest one-week increase in more than 5 years!
I have talked though with a few lenders the past few days over the weekend and they assure me that if a person qualifies with good credit and a decent down payment, the loan is there to be done.
If you would walk in to buy a car under the same circumstances, I am sure they would have a few options for car loans too.
The difference this year, is that things are going back to a more normal environment and I feel this is not the worst to happen in a while.
I have not been able to get an answer of how many electoral votes we have here in Blogsylvania. We could have an impact here on the election!