Home buying surges as mortgage rates fall
November 26 2008 - The federal government’s newest bailout package has lit a new fire under the Sacramento housing market.
The government’s move, announced Tuesday, brought mortgage rates down nearly a full percentage point. It brought some new buyers out of the woodwork at a time of year when things normally slow down. Sales activity has been strong the past seven months, but the government’s program could make things even stronger.
“Where Friday is going to be black Friday for retail people, it’ll be a day for people to start looking for houses,” said Alan Wagner of Re/Max Gold, president of the Sacramento Association of Realtors. “We’re seeing hits on the Internet sites going up.”
Interest in home buying surges as mortgage rates plunge
New home sales fall to near 18-year low
Bailouts: $7 Trillion and rising
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