not even know there IS a question.
With the FED telling U.S. that they will buy more TBills in order to keep mortgage interest rates down, why, then are mortgage interest rates going UP???
And, with rates going up, why are pending sales going up?
Please, note, that IF the pending sales are with a "locked" mortgage interest rate, we s/w/should interpret that as a wise move by buyers to move quickly before rates skyrocket.
However, IF the sales do NOT have any "locked" mortgage rate, there is a problem.
Can the borrower obtain a RE loan that they can still afford? Or, will they be "priced out of the market" and the RE deal flip?
Ah, this could get very interesting.
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Mortgage rates rise to 4.5 percent - going up as the economic outlook brightens
http://www.csmonitor.com/
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U.S. Mortgage Rates Rise Again, Third Week in a Row
http://www.realestatechannel.com/us-markets/residential-real-estate-1/real-estate-primary-mortgage-market-survey-rising-mortgage-rates-pmms-current-mortgage-rates-best-mortgage-rates-30-year-fixed-rate-mortgages-3575.php
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