Stable home prices, low mortgage rates could gas economy Mortgage rates continue at record low rates AND the housing prices are stabilizing in many areas accross the nation.
Freddie Mac reports interest rates for a 30 year fixed rate loan as below 5% since last May. The National Association of Realtors® reports that home prices are up from a year ago in 77 of 155 major metro areas. The 2008-2009 report showed only 30 areas (last years at his time).
Source: USA Today MORE
Consumer Confidence Rises to Highest Since June The confidence level rose more than expected! It is now at the highest rate since last June according to Reuters.
Their belief is that this will spur increased spending through the holiday season at least. Although this is great news, and anything that helps the economy helps the housing market as well, it is not expected to make a significant difference to the unemployment figures on the national level.
Source: Reuters, New York by Caroline Valetkevitch MORE