The pressure continues on interest rates but the housing market continues to improve. Perhaps the naysayers will end up being on the wrong side of the market!!! 15 consecutive months of price improvements nationwide. Jim notes: "... price gains have pulled many owners with negative equity into positive territory ". Isn't that great news??!!
The only negative is that home owners wishing to stay in their homes have cut back on refinancing. This is understandable as many people that purchased in the past 7 years have had rates under 6% and many under 5% thus refinancing has no real attraction as rates increased to 4% and above.
We keep on humming along!