Home Buying LeapsThe theme of today seems to be leaping. While
Mortgage Rates are jumping up, so is house buying! Sales of new US Homes saw the largest leap in 4 years, well above Wall Street Estimates. They rose in every region of the country. We will see how the rising rates effect this trend, given the earlier news articles today about declining mortgage loans. My best guess is that any decrease in loans would be a slight bump in the industry as those who are looking to buy are waiting out the market to see how it responds. If rates drop, those people who have been waiting will likely jump in and if the rates jump up those who took a pause might decide to also lock in before rates go any further.
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