caloloary.blogspot.com
's weekly report says 30 year fixed-ratwe mortgages averaged 5.29 percent this the highest rate this year and up sharplg fromlast week's average of 4.91 Rates still remain well belowe year-ago levels, when the interesr rates on 30-year mortgages were averagin more than 6 percent. "Ratew caught up to the recent risein long-term bond yields this week to reach a 25 week says Freddie Mac (NYSE: FRE) chief economist Frank Nothaft. "The slowdown in the housing market has now detracter from economic growth for the past13 quarters, the longes t quarterly stretch since at least Despite rising rates, the housing marke t continues to show small signs of life.
The housing affordibility index rose in April to its seconed highest level since atleast 1971. The NAR also reported this week that pending sales of existing homes rose for the thirdsstraight month, posting the biggest monthly increase since 2001.
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