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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Dec 20, 2013
Page
8
U S existing home sales declined for the third month in November as higher mortgage rates and limited supply dampened buying. The National Association of Realtors reported a 4.3 percent drop to an annual rate of 4.90 million, the weakest since December 2012.
The Fed trimmed monthly bond purchases from 85 to 75 billion, signaling higher long term rates and potential effects on home loans savers and banks. Analysts warn the impact varies by borrower and investor and that rates may stay low for now.
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