First the bad: mortgage bonds are moving lower in price (higher in rate for mortgages) and have now hit a price level not seen since last May. Here is the chart. Red is bad, green is good (when you are thinking about mortgage rates to you).
What is the good news?
The Case-Shiller 20-City Compoasite Index reported home price gain of 1.4%. This is the fastest gain in prices in over 7 years. Here are some articles on it:
http://www.marketwatch.com/story/us-home-price-growth-fastest-in-nearly-7-years-2013-05-28
http://www.cnbc.com/id/100769361
Keep in mind, even though mortgage rates are rising they are still near record low levels and any rise from here should not impact a decision of home affordability.
If you are buying a home in any of the 50 United States, I can assist. When you want a seasoned person to help you on the largest financial transaction in your life, call me. Let me tell you why!
Brett
www.BrettGrendahl.com
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