Today's Mortgage Rate Update 5/22/13 Rates Are Heading Higher!
By Mike Hendrickson, Fine Homes, Short sales, excellent client services
(Premier Agent Network)
It looks like rates are heading higher. In the last week we have had a spike up in rates! We have had a drop in mortgage apps (-9.8%), Refi's down (-11.7%), Purchase apps (-3%). Also in Spain, the government dropped the tax benefits for home ownership and property prices have dropped 22%. In Madrid down 30% and the Basque Country down 40%! Makes you wonder how much home prices would drop here if mortgage interest and property taxes deduction went away? Visit my web site at www.myslohomefinder.com for all your San Luis Obispo County property and real estate seach needs. The Day Ahead:Existing Home Sales, Ben Bernanke, FOMC Minutes Activity in the housing sector caught fire in April with Existing Home Sales up 0.6 percent to an annual rate of 4.97 million...