Mortgage rates rise at fastest pace in 10 years | North Salem Real Estate


Mortgage rates are at historical lows, but they are increasing at the fastest pace in a decade, Businessweek claims in a new article.

Earlier this week, Federal Reserve Chairman Ben Bernanke said the Fed plans to taper off purchases of mortgage-backed securities once the unemployment rate hits 7%.

The news sent stock markets plunging around the world, the article noted.

“If people believe house prices are going up, credit availability will evolve,” said Paul Willen, a senior economist at the Federal Reserve Bank of Boston. “There is too much money to be made lending to homebuyers. Lenders will find a way.”

 

 

Bedford New York Real Estate | Bedford NY Homes by Robert Paul Realtor » Blog Archive » Mortgage rates rise at fastest pace in 10 years | North Salem Real Estate.

About robertpaulrealtor 914-325-5758

Realtor in Bedford NY specializing in marketing and selling luxury homes and finding the perfect homes for new buyers. Working in Armonk, Katonah, Pound Ridge, Lewisboro, Chappaqua and North Salem. 914-325-5758 robert.paul@elliman.com
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