TribLIVE

| Business

 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Rising mortgage rates are top concern for homebuyers

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

By The Washington Post
Wednesday, July 17, 2013, 12:01 a.m.
 

Housing prices are high, the supply of homes is low and credit is tight. But the No. 1 concern for potential home buyers is rising mortgage rates, according to a recent online survey by real estate research firm Trulia.

More than 40 percent of people who plan to eventually buy a home said they were worried about rising rates, followed by rising home prices and low inventory. Among those homeowners who were planning to buy a home within the next year, inventory just edged out rising rates, the survey said.

The 30-year fixed rate touched 4.5 percent last week, according to data from Freddie Mac, and there appears to be no turning back, economists say. If rates rise too fast, they have the potential to hurt the housing recovery by pricing buyers out of the market.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Business Headlines

  1. Shale gas violations down as DEP steps up inspections
  2. Bonuses on the rise, but fewer workers receive them, survey shows
  3. Allstate patents driver analysis
  4. ‘Rank and yank’ doesn’t meet all expectations
  5. Hackers have wide reach
  6. Macy’s prepares outlet stores
  7. Federal Reserve Vice Chairman Fischer in spotlight as meeting nears
  8. Week yields lessons on China
  9. Fund fees within investor control
  10. Crash-prevention technology changes face of auto industry
  11. After 90 years, Goodyear forces iconic blimp into retirement