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EmailToll Brothers founder talks about state of housing market
Mortgage rates to skyrocket soon, said Toll
June 20, 2011
In discussing the housing market, Bob Toll of Toll Brothers said that mortgage rates will begin to rise as the Federal Reserve’s quantitative easing program, or QE2, wraps up, according to USA Today. Toll stated that he wouldn’t be surprised to see rates spike from 4.5 percent, where they are now, to 7.5 percent within two years.
Toll also said that even with home prices down 30 to 50 percent, housing remains a buyer’s market. When the Fed stops QE2, Toll said, the biggest element of demand is going to leave the market, accounting for the drop in the price of bonds and some escalation in interest rates.
For more information: www.usatoday.com/money/companies/management/bartiromo/2011-06-17-toll-brothers-bartiromo_n.htm
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