Salient to Investors:
US 30-year loan rates are at the highest in 6 weeks at 3.51 percent.
Low rates are fueling a frenzy of demand in some markets as buyers compete for a tight supply of properties. Areas such as San Francisco, Atlanta, Phoenix and Reno saw rises of more than 30 percent in Q1 2013 from a year ago.
Jonathan Miller at Miller Samuel sees the same mentality as in the boom: the only difference is tight credit keeping the process close to honest for the time being.
Read the full article at http://www.bloomberg.com/news/2013-05-16/mortgage-rates-in-u-s-rise-to-highest-level-in-six-weeks.html
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