Low rates buoy real estate sales

Guest perspective: Adjustable loans to lose market share

Concerns over the economy going through a soft patch were diminished as third-quarter real GDP grew 3.7 percent. Although consumer confidence declined in October over the very tight presidential race and rising oil prices, consumer spending advanced a strong 4.6 percent in the third quarter. Adjustable and fixed mortgage rates both fell during the last month, however the spread between them narrowed as the fixed rate decreased more than the adjustable rate.