What’s Ahead For Mortgage Rates This Week – April 28, 2014
Last week's economic news supported recent reports that home sales were fewer and home prices increased, but did so at a slower pace. The NAR reported a slower pace of existing home sales, and FHFA reported a slower year-over-year rate of growth for home prices on properties financed by Fannie Mae and Freddie Mac. The U.S. Commerce Department reported that new home sales fell to their lowest level since July 2013. Mortgage rates rose for fixed rate mortgages, but were unchanged for 5/1 adjustable rate mortgages. Here are the details: Existing Home Sales Slow, Moderate Growth In Home Prices March…