Are Mortgage Rates Too Low to Threaten the Recovery?
The recent rise in mortgage rates is not enough to pose any real threat to the housing recovery, but that’s not to say the increase doesn’t come with any risk, according to a recent analysis from Capital Economics.
Freddie Mac’s most recent survey showed the 30-year fixed rate is almost back at 4 percent, while the Mortgage Banker Association reported the 30-year was up to 4.15 percent, the highest since March 2012.
To put things into perspective, Ed Stansfield, chief property economist at Capital Economics, noted that on a long-term view, rates are still “exceptionally low” as they return to levels seen in late 2011 and early 2012.
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