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Mortgage rates rebound in critical moment for housing

Mortgage rates rebound in critical moment for housing

Freddie Mac Chief Economist Sam Khater echoed some of those ideas in a release out Thursday, calling the next few months “key for gauging the health of the housing market.”

“Existing sales appear to have peaked, sales of newly built homes are slowing and unsold inventory is rising for the first time in three years,” Khater noted.

For now, it seems, Americans still want to try to be homeowners. For the year to date, mortgage rates are on average 37 basis points higher than the same period in 2017 – 4.43% versus 4.06%. But mortgage purchase applications are 4.25% higher compared to a year ago, according to data from the Mortgage Bankers Association.

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