Existing Home Sales Climb Again in October

Sales of existing homes in the US rose for the second consecutive month in October and are at their highest level since July 2007, according to a Reuters report. It appears as buyers are coming out of the woodwork to avail themselves of high levels of affordability and the tax credits available for first time [...]

Understanding the Correlation Between Mortgage Rates and Home Sale Numbers

Common sense will tell you that the sales of homes increase when mortgage interest rates decline and the sales of homes decreases when mortgage interest rates increase. The logic hinges on the belief that interest rates determine affordability. If rates increase, affordability decreases thus the sales of homes should decrease. The sales of homes in [...]