Mortgage rates soar
Mortgage rates have been rising steadily over the last few weeks and if ever there was a time to “lock in” your rate then that it is NOW.
With current CPI, PPI and Unemployment reports being surprising optimistic and the belief on Wall Street that “the worst is over” the rates on the 10yr Treasury have started to sky rocket. This in turn is forcing mortgage rates to move up by more than a full % point in the last 4 weeks.
Pending home sales rebounding
Pending home sales rebounding
Number of signed sales contracts continues bounce off record lows for third consecutive month.
NEW YORK (CNNMoney.com) — The number of home sales contracts signed in April continued to bouce back from record lows hit last winter, according to a widely watched industry report. This is the third consecutive month of gains.
The Pending Home Sales Index from the National Association of Realtors rose 6.7% in April after jumping 3.2% in March. That was far above the forecasts of experts surveyed by Briefing.com, who predicted a 0.5% increase. The index was 3.3% higher than 12 months earlier.