Mortgage Rates Rise as Recession Fears Recede

"The modest uptick in mortgage rates over the last two months reflects declining recession fears and a more sanguine outlook for the global economy,” says Sam Khater, Freddie Mac’s chief economist. “Due to the improved economic outlook, purchase mortgage applications rose fifteen percent over the same week a year ago, the second highest weekly increase in the last two years. Given the important role residential real estate plays in the economy, the steady improvement of the housing market is a reassuring sign that the economy is on solid ground heading into next year.”

Guillermo "Bill" Sanjurjo Realtor® 12955 SW 42 St Suite 2, Miami, FL 33175 Cell: 786-232-1400