Summer Heats Up Home Sales

Home sales are soaring this summer, despite limited supply across many areas of the country. Sales of previously owned U.S. homes climbed 3.2 percent to an eight-year high in June according to the National Association of REALTORS®. In addition, existing home prices rose 6.5 percent over last year because of limited supply.
U.S. markets and home loan rates were subject to volatility this summer after economic crises in Greece and elsewhere made investors nervous. This led to a “flight-to-safety” into the U.S. Bond market. Home loan rates are tied to Mortgage Bonds,so when Bonds improve, home loan rates improve as well.

Posted on August 25, 2015 at 8:17 am
Nancy Low | Category: News

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