The relentless march higher continues. Home prices continue to post at higher levels, as they have for the past five years. Realtor.com, Case-Shiller, and Trulia data show home prices relentlessly rising across the country month after month.
We have a new Federal Reserve Chairman. Jerome Powell leads the troops these days. As Fed Chairman, Powell will recurrently be run through the Congressional wringer. His first run through occurred last week.
A four-year high, at least that’s the Mortgage News Daily verdict.
Rate quotes on the prime conventional 30-year mortgage center on 4.625% – a four-year high – more often than not these days. Rate quotes clicked higher after the minutes of the latest meeting of Federal Reserve officials were released. The minutes showed officials were more upbeat on the economy than most market watchers expected.