Low Mortgage Rates Defy Expectations

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00008869-low-mortgage-rates-defy-expectations/

By Nell Henderson, Washington Post Staff Writer

Mortgage rates were supposed to be rising by now, helping to gradually cool the nation’s red-hot housing market.

The Federal Reserve has been raising short-term interest rates steadily for nearly a year. The economy is growing at a healthy pace. Energy costs are up. If history were a guide, long-term rates would be rising, too.

But they are not. Even Fed Chairman Alan Greenspan has called this a “conundrum.”

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Low Mortgage Rates Defy Expectations

Unknown Author

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