Housing Sector Hangs by a Thread Despite Rock-Bottom Rates

Interest rates for homebuyers are lower than at any time since the Eisenhower era and home prices in many regions have fallen drastically. Buyers who qualified for the federal tax credit program that ended in April, meanwhile, were given extra time, through the end of September, to close on their homes. And yet, home sales are in decline. Existing home sales fell 2.2 percent in May compared to the prior month, the National Association of Realtors said in June. Pending home sales -- contracts...Full Story
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