Mortgage rates are up 0.875% since mid-November, causing home buyer purchasing power across Longwood to fall more than 10 percent since.
Persistent concerns over inflation are a major reason why and this week's Consumer Price Index did little to quell fears. CPI rose for the third straight month last month.
Wall Street was not surprised.
As the economy has picked up steam since late-2010, the Federal Reserve has held the Fed Funds Rate near zero percent, and kept its $600 billion bond plan moving forward. The Fed believes this is necessary to support the economy in.....
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Cost of Living Reaches An All-Time High, Pressures Mortgage Rates Higher
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