If history is any indication, the recent spike in mortgage rates is going to have little or no impact on home prices, Les Christie with CNN Money writes about a new report from Fannie Mae.
After looking at mortgage rates going back to 1990, Fannie Mae's researchers came to the surprising conclusion that while rising rates were likely to hurt the number of home sales, they had virtually no impact on home prices, Christie wrote.
"History suggests that interest rate increases at the level recently witnessed will not stop the current housing recovery," the report said.
For more:http://www.trulia.com/blog/ken_allen/2013/07/the_allen_report_fannie_finds_higher_mortgage_rates_won...
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