The increase in mortgage rates, a reaction to the improving economy and housing markets, could fuel already hot housing markets as potential home buyers look to seal a deal before rates rise any further, writes the Los Angeles Times.
Christopher Thornberg, head of the West L.A. consulting firm Beacon Economics, said the increases might add as much as 1 percentage point to mortgage rates by the end of next year. He said:
“I think rates will drift slowly higher. But within these ranges, home prices are still cheap compared to incomes and apartments.”
Rising rates could push more buyers to purchase now | HousingWire.
Just back out of hospital in early March for home recovery. Therapist coming today.
Sales fell 5.9% from September and 28.4% from one year ago.
Housing starts decreased 4.2% to a seasonally adjusted annual rate of 1.43 million units in…
OneKey MLS reported a regional closed median sale price of $585,000, representing a 2.50% decrease…
The prices of building materials decreased 0.2% in October
Mortgage rates went from 7.37% yesterday to 6.67% as of this writing.
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