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| Home Prices Rapidly Rise: Is History Repeating Itself? |
| By Suzanne De Vita |
The current growth in home prices is echoing the lead-up to the recession. Is history repeating itself? The answer is likely not, according to a recently released realtor.com® report. Building is lacking in many markets—one hallmark 10 years ago was over-construction—and credit standards are more stringent, says Danielle Hale, chief economist of realtor.com. "As we compare today's market dynamics to those of a decade ago, it's important to remember rising prices didn't cause the housing crash," Hale says. "It was rising prices stoked by subprime and low documentation mortgages, as well as people looking for short-term gains—versus today's truer market vitality—that created the environment for the crash." ...
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(TNS)—When people want to find out how much their mortgages cost, lenders often give them quotes that include loan rates and points.
