What’s Ahead For Mortgage Rates This Week – December 16, 2013
Mortgage Debt Rises For First Time Since Recession Last week was relatively quiet concerning scheduled housing-related news, but the Federal Reserve's financial accounts report, released on Monday, indicated that mortgage debt in the U.S. had increased for the first time since the first quarter (Q1) of 2008. Mortgage debt increased by a seasonally-adjusted annual rate of $87.4 billion, or 0.90 percent. Mortgage debt remains approximately 12.00 percent below pre-recession levels. Increasing debt is not often considered good news, but in the case of mortgage debt in today's economy, it suggests economic recovery in the form of higher home prices and…