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Home buyers don’t catch break: U.S. mortgage rates rise again

bizjournals.com | July 7, 2015

As July begins to heat up America, home buyers are out in full force. But folks looking for record-low mortgage rates aren’t seeing them as those rates are on the upswing, according to Freddie Mac.

The average 30-year fixed mortgage averaged 4.08 percent for the week ending July 2, up from 4.02 percent the previous week.

A year ago, 30-year rates averaged 4.12 percent.

Sean Becketti, chief economist for Freddie Mac, said overseas events are causing volatility in mortgage rates.

Despite rates inching up, the U.S. housing market continues to show positive signs as pending homes sales rose 0.9 percent above expectations in the past week.

In Dayton, home buyers have been busy.

Local home sales soared 7 percent in May, while area home prices hit their highest levels ever, according to the Dayton Area Board of Realtors.

The historic low for 30-year rates was 3.31 percent in November 2012.

 

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CFLA was founded by the Nation's Leading Foreclosure Defense Attorneys back in 2007 to serve the Foreclosure Defense Industry and fight pervasive Bank Fraud. Since opening our virtual doors, CFLA has rapidly expanded to become the premier online legal destination for small businesses and consumers. But as the company continues to grow, we're careful to hold true to our original vision. For us, putting the law within reach of millions of people is more than just a novel idea—it's the founding principle, just ask Andrew P. Lehman, J.D.. With convenient locations in Houston and Los Angeles, you can contact Our National Account Specialist and General Manager / Member Damion W. Emholtz at 888-758-2352 for a free Mortgage Fraud Analysis or to obtain samples of work product, including cutting edge Bloomberg Securitization Audits, Litigation Support, Quiet Title Packages, and for more information about our Nationally Accredited and U.S. Department of Education Approved "Mortgage Securitization Analyst Training Certification" Classes (3 days) 24 hours for approved CLE & MCLE Credit (Now Available Online).

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