After the last 2-weeks of consistent hikes in mortgage rates, the recession conversation is back on the table. Economists participating in the Secretary of Housing and Urban Development summit today, put the probability of that happening at 29%. NAR Chief Economist, Lawrence Yun shares "Real estate is on firm ground with little chance of price declines. However, in order for the market to be healthier, more supply is needed to assure home prices as well as rents do not consistently outgrow income gains."
Bookmark this page for mortgage rates:
• 30-year (FRM) rates at 3.79% (+0.03%)
• 15-year (FRM) rates at 3.44% (+0.03%)
• FHA 30-year Fixed rates at 3.39% (+0.01%)
• Jumbo 30-year Fixed rates at 3.89% (+0.04%)
• 5/1 ARM rates at 3.46% (+0.03%)
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