Mortgage rates rose 0.25% to 5.31% for 30 years last week, which most suspect will hurt the already soggy housing market.
In the long-run, it probably will, but in the short-run it could spark a mini-boomlet. Home-buyers who’ve been sitting on the sidelines waiting for prices and rates to drop may jump in and buy now before rates head up…Perhaps we get two or three months of decent home buying before action cools again in the fall.
