The current environment surrounding falling oil prices has affected consumers and producers around the globe, with fear that the recent plunges could cause the home prices to fall as well. However, that’s not the case.
Energy stocks are being compared to the housing market in the U.S. after the subprime mortgage crisis. Triggered by a large decline in the prices of homes, this lead to mortgage felonies, foreclosures and deflation.
Real estate economists are predicting that mortgage rates will rise in 2015 and investors are buying now instead or waiting for oil and gas companies to regain strength, unlike the housing market during the energy crisis of 1980s.
Still unsure if it’s the right time for you to buy a home? Zeus Mortgage is here to answer your mortgage questions. Let me know your current mortgage concerns in the comments!
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