What’s Ahead For Mortgage Rates This Week : October 22, 2012
Mortgage markets worsened last week, taking mortgage rates higher. The Federal Open Market Committee meets this week.
Single-Family Housing Starts Rise To 4-Year High
According to the U.S. Census Bureau, on a seasonally-adjusted, annualized basis, Single-Family Housing Starts rose to 603,000 last month, an 11 percent increase from the month prior and the highest reading in more than 4 years.
Buyers Win 6.6 Percent Increase In Purchasing Power
Home purchasing power is up 6.6% since the start of the year.
Mortgage Rates Bounce Off All-Time Lows; The Start Of A Trend?
One week after posting its lowest mortgage rate in 50 years, Freddie Mac reports that the 30-year fixed rate mortgage rose by an average of 7 basis points nationwide this week to 4.22 percent.