Wednesday, Jun 20, 2007
Here it comes...
Bloomberg: Mortgage Rate Rise Pushes U.S. Housing, Economy to `Blood Bath'
June 20 (Bloomberg) -- The worst is yet to come for the U.S. housing market.
The jump in 30-year mortgage rates by more than a half a percentage point to 6.74 percent in the past five weeks is putting a crimp on borrowers with the best credit just as a crackdown in subprime lending standards limits the pool of qualified buyers. The national median home price is poised for its first annual decline since the Great Depression, and the supply of unsold homes is at a record 4.2 million, according to the National Association of Realtors.
Posted by hunthunthunt @ 05:48 PM (164 views) Add Comment
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