Home Prices Climb

Existing Home Sales rose 6.1% last month to 5.19 million annualized units, which was 2.7% more than analysts expected.  Not only are more homes being sold, but FHFA (Fannie & Freddie’s mother with a less-catchy name) reports that housing prices climbed 5.4% since April 2014.

Bond pricing is tanking this morning, putting upward pressure on interest rates.  Perennial shoppers should be advised that that these great rates won’t last forever.