Tag Archives: Rising Mortgage Rates May Spark Buying Frenzy

Rising mortgage rates are prompting some renters to jump off the fence and consider buying a home, so they don’t miss out.  Mortgage rates have seen a sharp rise in recent weeks. Mortgage applications for home purchases have risen 3 percent and are up 14 percent over year-ago levels, according to the Mortgage Bankers Association.  Fed Chairman Ben Bernanke recently suggested that the Fed’s efforts to keep mortgage rates at record lows may be nearing an end soon.  “It’s amazing to see the frenzied pick-up in home buying, as renters […]