Average home prices set record as rates top ten percent
Washington AP reports December average new home prices at 67600 and used homes at 58000 with new house rates at 10.02 percent and used at 10.06 percent. Prices rose about 17 percent year over year while rates may rise toward 11 percent in coming year. Robert H. McKinney notes rising prices pose a bigger issue than rates.
MENTIONED IN THIS ARTICLE
Michael Sumichrast
National Association of Home Builders
Sumichrast
Robert H. McKinney
Home Loan Bank Board
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Federal Home Loan Bank Board
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