US mortgage costs jump 14% in seven weeks is the housing recovery over?Posted on 14 July 2013 with no comments from readers
A one per cent jump in the average US mortgage interest rate over the past seven weeks might not sound much but it is a far bigger 14 per cent increase when seen in terms of average monthly repayments.
Can the US housing recovery stand this kind of squeeze? If not then a major pillar of the US economic upturn is about to tumble. Wall Street looks like a naked short in this analysis.
On ‘Insight & Action,’ Adam Johnson looks at US mortgage rates on Bloomberg Television’s ‘Street Smart’…