30-Year Mortgage Sinks This Week: Mortgage rates are falling, despite the cuts to the Federal Reserve's monthly bond purchases that were expected to send long-term rates
higher. The 30-year fixed-rate mortgage, the most
popular choice among home buyers, averaged 4.19 percent this week, down
from a 4.53 percent average at the start of the year, Freddie Mac
reports in its weekly mortgage market survey, ending Oct. 2. National House Price, Yun
gives an overview of pending home sales so far this year, talks about
new home construction, the slight increase in inventory, and shadow
inventory. Yun
says first-time buyer participation should gradually improve despite
tight credit conditions and the inevitable rise in rates. “See his forecast for the housing market through the end of 2014 and into 2015.
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