Foreclosure Rates Drop and Interest Rates Rising

[Aaron Cunningham]

According to DSNews.com the national foreclosure rate dropped by 2.5% from year end 2012 to 2013. However we are seeing interest rates trend upward, December 2012 rates for a 30 year fixed conventional laon were 3.2% and December 2013 were 4.4%. However despite the rising interest rates and falling defaults most markets across the county are continuing to see prices holding steady and even values increase from this same period last year. If the banks can hold interest rates steady we believe that 2014 will be even stronger economically than 2013.