What’s Ahead For Mortgage Rates This Week — June 3, 2013
Last week’s financial news was relatively limited due to the Memorial Day holiday and no economic reports being released on Wednesday. The biggest news in terms of housing and mortgages was the S&P/Case-Shiller Housing Market Indices (HMI) released on Tuesday. The March HMI data for national housing markets reflected a sharp increase in year-over-year home prices from 9.30 percent in February to 10.90 percent in March. Twelve cities included in the Case-Shiller 20-city index reported double-digit year-over-year percentage gains for March home prices. While this data strongly supports recovering home prices, analysts cite the need for more jobs, which would…