Sales of existing-home sales increased in May with buyers responding to lower home prices. Existing-home sales increased 2 percent to a seasonally adjusted annual rate of 4.99 million units in May from a level of 4.89 million in April. NAR President Richard F. Gaylord says buyers are seeing … [Read more...]

Mortgage Interest Rates rise to a 8 Month High Speculation that the central bank could reverse its rate cutting campaign later this year as a way to keep inflationary pressures in check drove up mortgage borrowing costs during the past week, according to Freddie Mac. Interest on 30 year … [Read more...]

Experts and analysts agree that the foundation for a healthy housing market is in place: low interest rates, a low unemployment rate, a rising population, and increasing wealth. With home prices at 2002 and 2003 levels, the stage is set for a large rebound. "When the market recovers, home prices … [Read more...]