Mortgage Rates Edge Down From Recent Highs, But Remain Over 7%

Mortgage rates hit their highest level in just over 3 months yesterday with financial markets generally protesting the absence of more serious spending cuts in the spending bill.  Rates care about fiscal spending because higher spending requires higher Treasury issuance which, in turn, pushes r

Rates Rise to Highest Level Since Mid-February

Rates on 30-year mortgages inched up to 6.86% from 6.81% last week, while rates on 15-year fixed-rate mortgages rose to 6.01% from 5.92%.

Fla.’s April Housing: Inventory Up, Prices Ease

Florida Realtors Chief Economist cites still high mortgage rates as a factor, saying if they fall to 6%, it will help affordability and spur more buyer competition.

National Existing-Home Sales Dip in April

Existing-home sales slid 0.5% in April to a seasonally adjusted annual rate of 4.00 million. Sales retreated 2.0% from one year ago.