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What S&P downgrade means to housing

Posted on 09 August 2011

If you are a home buyer or seller, local real estate and mortgage experts say don’t panic that the S&P lowered the U.S. credit rating. They do not expect the downgrade to drastically impact the mortgage rates.
Karen Schlosser, Comey and Shepherd Sales Manager, said, “I’m sure there are people who are concerned. My attitude is there are lots of cycles in real estate,” she said. Home seller Steve Reichert of Mason would like the rate to go up a bit. He says that may encourage potential buyers to make a purchase-out of worry that the rates are on the upswing……………………………………….Full Article: Source


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