{"id":26693,"date":"2013-06-11T09:58:03","date_gmt":"2013-06-11T16:58:03","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=26693"},"modified":"2013-06-11T13:35:25","modified_gmt":"2013-06-11T20:35:25","slug":"deja-vu%e2%80%8e-mortgage-interest-rates-panic","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2013\/06\/11\/deja-vu%e2%80%8e-mortgage-interest-rates-panic\/","title":{"rendered":"D\u00e9j\u00e0 Vu\u200e: Mortgage Interest Rates Panic"},"content":{"rendered":"

\"OMG<\/p>\n

Looks like it’s that time again… Recent headlines have described an increase in mortgage interest rates from 3.35% to 4.0% with hyperbole like “Mortgage Rates Soar<\/a>,” and “Soaring U.S. Mortgage Rates<\/a>.” <\/p>\n

If this sounds familiar it’s because we heard the same nonsense<\/a> when rates moved from 5.0% to 5.3% in 2010. These types of articles often include a graphic like the one at right, with the x and y axes manipulated to make the latest gyrations in interest rates look like a very big deal<\/strong> that will most likely destroy<\/strong> the housing market.<\/p>\n

I’ve pointed this out numerous times<\/a> in the past<\/a>, but it is worth repeating: Rates are still crazy low<\/em>.<\/p>\n

Rates could increase four percentage points<\/em> and still<\/em> be historically low. Here’s the appropriate historical context to keep in mind when you read these hysterical stories about rates “soaring” or “hitting a one-year high.”<\/p>\n

\"Weekly<\/a><\/p>\n

The latest increase barely registers as a blip when the chart is appropriately scaled.<\/p>\n

As long as interest rates are still below 6%, I doubt we’ll have anything resembling a “normal” housing market. I for one take increasing interest rates to be a good sign. It’s an indication that the market is able to sustain itself without artificial manipulation via ridiculously low rates.<\/p>\n","protected":false},"excerpt":{"rendered":"

Looks like it’s that time again… Recent headlines have described an increase in mortgage interest rates from 3.35% to 4.0% with hyperbole like “Mortgage Rates Soar,” and “Soaring U.S. Mortgage Rates.” If this sounds familiar it’s because we heard the same nonsense when rates moved from 5.0% to 5.3% in 2010. These types of articles…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"On the blog: D\u00e9j\u00e0 Vu\u200e: Mortgage Interest Rates Panic http:\/\/wp.me\/pe2Bv-6Wx","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[613,198],"tags":[223],"coauthors":[],"class_list":["post-26693","post","type-post","status-publish","format-standard","hentry","category-national-news","category-news","tag-interest-rates"],"yoast_head":"\nD\u00e9j\u00e0 Vu\u200e: Mortgage Interest Rates Panic \u2022 Seattle Bubble<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seattlebubble.com\/blog\/2013\/06\/11\/deja-vu\u200e-mortgage-interest-rates-panic\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"D\u00e9j\u00e0 Vu\u200e: Mortgage Interest Rates Panic \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"Looks like it’s that time again… Recent headlines have described an increase in mortgage interest rates from 3.35% to 4.0% with hyperbole like “Mortgage Rates Soar,” and “Soaring U.S. Mortgage Rates.” If this sounds familiar it’s because we heard the same nonsense when rates moved from 5.0% to 5.3% in 2010. 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