Rates May Slow Sales Of Homes

The air might be starting to come out of the "housing bubble" (if there truely is one)...

On Thursday, a survey of housing lenders showed that the rate on 30-year mortgages rose above 6 percent for the first time since March. While it's bounced above that psychologically important threshold a few times in the past year, only to drop back, analysts say this time the direction looks to be headed in one direction - higher.

The article goes on to say that Realtors nationwide are also reporting a decline in demand. More...
Aleksandrs Rozens
Associated Press