Existing home sales up 11% in October (Reg Req’d)
Home sales in the Birmingham-Hoover area rose 11 percent in October as rising interest rates spurred buyers to make a deal.
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Mortgage Rates Rise Mortgage rates rose this week following investors' concerns of inflation. The average 30-year fixed mortgage rate rose this week to 6.42 percent, up from 6.31 percent.Commentread more...
Lawmakers zero in on mortgage brokers (Concord Monitor) Mortgage brokers, under fire for steering borrowers into high-cost home loans, are a prime target of fair-lending legislation soon to be unveiled on Capitol Hill.read more...
Mortgage rates up slightly (Bankrate.com via Yahoo! Finance) A housing report that could be read optimistically sent mortgage rates higher, with the 30-year fixed rate rising to 6.19 percent, according to Bankrate's weekly survey of large lenders.read
Weak Market Creates Advantages for Lower-Income Buyers Q: I don't want to continue renting, but I make only $30,000 annually and don't have a lot of money for a down payment. My credit score is over 800,
AG Suthers goes to court over mortgage ads (Denver Post) Colorado Attorney General John Suthers has targeted alleged false advertising and other deceptive mortgage-industry practices in a complaint filed in Denver District Court. read more...
Treasurys slump, sending 10-year yield back above 4.6% The yield, a reference for mortgage and corporate borrowing, was nearing the six-month highs it hit last week.read more...