(Reuters) – When the housing bubble burst, a damage-control mentality replaced decades of conventional real estate wisdom.
With the housing market now rebounding, there is still uncertainty. The old rules – such as getting a fixed-rate mortgage and refinancing when you can – don’t apply. But the post-bust rules don’t work either.
“There’s a new, new emerging wisdom,” says Erin Lantz, director of the Zillow Mortgage Marketplace for the Zillow.com real estate site.