Should you lock in the interest rate on your mortgage? A couple of things to consider: 1. While I am confident that the Debt Ceiling Debate will be settled (whether it’s for six months or a year), my greater concern is the growing belief that the ratings agencies are looking at downgrading our government’s bonds from our AAA status.  By lowering the credit rating of the bonds being presented to the market, the confidence of those who buy our bonds will be shaken.  In order to overcome the … [Read more...]

As the national real estate slump deepens, home prices in many cities have crossed a worrisome milestone. It’s cheaper to buy a home than to rent onein 74 percent of the country’s largest 50 cities, according to the real estate site Trulia — findings that confirm the national epidemic of depressed housing prices remains in full swing. Trulia’s research, which compared the median list price and median rent for two-bedroom apartments, condos and townhomes in America’s 50 largest cities, found … [Read more...]