The 5% Appreciation Track

The Federal Housing Finance Agency (FHFA is Fannie/Freddie’s parent) reports that home prices rose 1.3% in the first quarter of 2015.  That’s an annualized increase of 5.2% across the country.

Outside of our little housing world and across the globe, Greece is again facing a series of debt payments coming due this month.  Analysts do not expect that Greece has the resources to make those payments, and some concessions will need to be made. Why does that matter?  A debt default would keep our mortgage rates low.

Stocks lost and Bonds gained throughout the day yesterday, but the trend is reversing so far this morning.  Interest rates look to be holding steady here.