Despite higher rates, housing market continues to improve

Home buyers waiting on a return to lower mortgage rates before buying are probably out of luck, a top housing economist told local home builders and Realtors Tuesday. Lawrence Yun, the chief economist for the National Association of Realtors, said home borrowing rates are headed higher as the Federal Reserve Bank tightens its monetary policy, inflation edges higher and government deficits worsen.

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Source:  Time Free Press