The average rate on a mortgage has soared above 4% for the first time in more than year, resulting from recent turmoil in the bond market and threatening to undermine the central bank’s efforts to stoke the recovery, The Financial Times reports.
Fed wind down fears push up mortgage rates
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Why are existing home prices rising when sales are still so low?
Existing home sales fell in today’s report, but home prices are still up year over year, even with higher inventory and higher mortgage rates.
