Mortgage Rates are increasing with "The average 30-year fixed rate mortgage inched higher from 5.76 percent to 5.78 percent, according to Bankrate.com's weekly national survey of large lenders. The 30-year fixed rate mortgages in this week's survey had an average of 0.38 discount and origination points. (July 21 /PRNewswire-FirstCall)"
As this blog has argued before, rising mortgage rates are NOT a necessity for a bubble bursting. However, rising mortgage rates are a nice prick that will help pop the bubble.
Friday, July 22, 2005
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