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Why higher mortgage rates will help the housing market

Posted on 19 March 2013

Mortgage interest rates have been rising on signs that the U.S. economy is improving. Last week, the 30-year fixed rate reached the highest level in more than six months, climbing to an average of 3.63%, compared with 3.52% the previous week and 3.92% a year earlier. The current rate is the highest it’s been since the week of Aug. 23 when the 30-year fixed rate averaged 3.63%, according to Freddie Mac.
With economic prospects improving, rates could rise even higher this year. This increase could mathematically make buying a home more expensive, but it’s unlikely to stall the housing recovery. To the contrary, higher rates could actually support it………………………………………..Full Article: Source


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