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The outlook for the next six months is also better, said NAHB chief economist David Crowe, thanks to lower inventory of homes available for sale, mortgage rates near record levels and better consumer confidence.
FORBES: Hiccup In Housing Data As Builder Confidence Softens
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Most people buy homes with a mortgage, and rates for those have plummeted to record lows.
WSJ: Upside: Housing Stocks Face Trouble
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This morning the Mortgage Bankers Association reported that mortgage applications for home purchases sank to a 13-year low last week in spite of near record low mortgage rates.
FORBES: Earnings Incite Optimism But Other Data Look Dimmer
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Right now, conditions for buyers are exceptionally good, because current mortgage rates are at record low levels, and housing prices are still well off their peaks.
FORBES: New Housing Data May Signal a Passing Opportunity
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Leeds Building Society has announced plans to increase its mortgage lending by 25% this year as it unveiled record operating profits for 2010.
BBC: Leeds Building Society plans mortgage lending jump
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For those fortunate enough to qualify for financing, monthly mortgage payments as a percent of income have been at record lows.
FORBES: New Housing Data Shows A Springtime Bounce Back, Not A Double-Dip
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The Bernanke Fed has been characterized by an aggressive attack on Treasury yields through all possible means: zero-bound interest rates with a pledge to keep them at record-lows for years to come, purchases of Treasuries and mortgage-backed securities through several programs of quantitative easing (QE), and a maturity extension program dubbed Operation Twist that should push longer-term rates even lower.
FORBES: Romney's Defeat Means Treasuries May Fall Below 1.5% On Fiscal Cliff And Bernanke
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Record low mortgage rates drove year over year home price gains in the US for the first time since the financial crisis surfaced in 2007.
FORBES: Q3 Ends in Midst of Bull Market; More Room to Run