Mortgage Rates Recover Slightly From Last Week's Rout
an 7 2013, 2:07PM
Mortgage rates managed to catch their breath today after rising at the fastest pace since March on from Wednesday through Friday last week. Some lenders offered improved rate sheets on Friday afternoon, while others waited until today to pass along improvements. But in both cases, the bounce back represents only a small portion of the broader losses. Best-Execution for 30yr Fixed, Conventional loans had been firmly planted at 3.25% heading into December, and began to share the stage with 3.375% as the month progressed. By Friday, it had risen to 3.5% for a majority of lenders and remains there today, though some are back in 3.375% territory.
Housing starts climb to highest rate since June 2008
(Reuters) - Groundbreaking to build new homes accelerated in December to its fastest pace in over four years, supporting the view that housing is poised to provide a substantial boost to the U.S. economy.
The Commerce Department said on Thursday that starts at building sites for homes surged 12.1 percent last month to a 954,000-unit annual rate.
Data for U.S. housing starts can be volatile and is sometimes subject to large revisions. The government revised downward its estimate for November housing starts to a 851,000-unit rate from the originally reported 861,000.
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