Posted To: Pipeline PressIn bad news, mortgage rates went up about .25% yesterday. In good news, more homes are going up for sale. According to realtor.com there was a September jump of 8% year over year, that’s the biggest jump since 2013. Between less deductions and higher rates, anxious sellers may have no other choice but to lower prices. “The Labor Department’s data on wages for US workers showed gains higher than expected for hourly wages, and the department’s forthcoming consumer-price index is expected to show growth. Some analysts have expressed concerns that the data could indicate accelerating inflation.” Are “analysts” ever happy? Most would say we need wage growth to outpace housing appreciation. There is a lot of economic news pointing to higher rates ahead – more below….(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
Michael Ayoub, Author NMLS ID 6631