Friday, April 14, 2006

Rates go Higher--Along with Incomes

Mortgage Rates
as of April 14:

30 Year Fixed: 6.49%

15 Year Fixed: 6.14%

1 Year Adj: 5.61%

According to the National Association of Realtors (NAR), home sales should level out and remain at historically high levels in 2006. Existing-home sales will drop 6 percent to 6.65 million from a record 7.08 million in 2005. New-home sales will fall 10.9 percent to 1.14 million from the record 1.28 million last year. Both sectors would see the third-best year following 2005 and 2004. For more information on NAR economic forecast data, go to HousingForecastApril06.

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