http://freemansblog.com/?p=69
's weekly report says 30 year fixed-rate mortgages averagedx 5.29 percent this week, the highest rate this year and up sharplt fromlast week's averagwe of 4.91 percent. Rates still remain well beloa year-ago levels, when the interest rates on 30-yearr mortgages were averaging more than6 percent. "Ratesd caught up to the recent risein long-term bond yields this week to reach a 25 week says Freddie Mac (NYSE: FRE) chie economist Frank Nothaft. "The slowdowhn in the housing market has now detracted from economidc growth for the past13 quarters, the longest quarterluy stretch since at least 1947.
" Despits rising rates, the housing market continues to show smalkl signs of life. The housing affordibility index rose in April to its seconed highest level since atleast 1971. The NAR also reportedc this week that pending sales of existingt homes rose for the thirrstraight month, posting the biggest monthly increase since 2001.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment