Poll Shows Lower Mortgage Rates Would Help Housing

A huge majority of those surveyed in the latest Housing Predictor opinion poll say that lower mortgage rates would help the housing market. The 30-year fixed rate mortgage has been at or near its record low for months, while the Federal Reserve keeps its rate near 0 in efforts to re-energize the real estate market.

The Obama administration has implemented a series of efforts to stimulate the market, including a federal tax credit for home buyers and the Fed´s purchase of $1.4-tillion in mostly failed mortgage backed securities. But the efforts seem lack luster in developing a revival of the housing market to push it into a full recovery phase. Visit Housing Predictor dot com to get the full details on the poll.

However, five states, including California and the Dakotas are experiencing recoveries in their markets. California had been in a down market for nearly five years before lawmakers agreed to offer a special $10,000 state tax credit to home buyers.

Efforts that have begun to demonstrate improving conditions in some housing market have not yet put a dent in the millions of foreclosures that are piling up with another 9-million homeowners at risk of losing their homes.

Developed to provide independent housing market forecasts so consumers can make better decisions, business owners, retail companies, bankers, mortgage companies and real estate firms consult Housing Predictor. Check your market forecast and keep up with real estate news at http://www.housingpredictor.com