News Not Really Telling The Whole Story?
I recently read an article on CNN.com about the housing market. It was talking about the mortgage interest rates going down, and also how many people were qualifying for loans these days.
Read this Headline:
“Mortgage Rates Are Low. So Are Approval Rates”
What kind of news does that sound like: good or bad?
Bad, right?!?
But the thing is, the article is laced with tons of good news, such as interest rates possibly dipping into the 4 percent range for mortgages. And buyers with decent credit scores and income ratios getting loans (about 60% of applicants actually GOT the loan. That’s more than half, for all you non-math majors).
So why the negative headline?
Easy. The news is meant for entertainment, not just information. If it said “Lower rates means people are buying more” you propbably wouldn’t read it, right??
But it’s so misleading I had to post a link to the article and let you decide for yourself.
Since this blog is dedicated to First Time Buyers, almost every piece of information in an article like this is GOOD for you. So don’t believe the headlines, people. Look past the hype and read the facts which tell the real story of the Housing Market:
First Time Buyers are Taking Advantage of Low Mortgage Rates, Low Prices, and a Surplus of Homes to choose from.
Let me know what you think! Thanks for Reading.
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