Released: June 30, 2007

Traditional mortgage solutions still exist

Source: Kenneth R. Harney, Washington Post (Free Registration)

What kind of financing is possible for home buyers and sellers worried about rising mortgage rates, Wall Street bond-market jitters and soft home prices?

Plenty. Although certain aspects of today’s post-boom marketplace may look scary on any given day, most of the traditional problem-solving tools of real estate finance are still at your disposal, whether you’re a buyer or a seller.

Interest rates of 6.75 percent and higher need not be deal-breakers or impediments to buying or selling. Just talk to experienced mortgage and real estate professionals who have worked through periods of double-digit and high-single-digit interest rates and falling prices in the 1980s and early ‘90s. You will get some valuable perspective.

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