Long-term U.S. mortgage rates climbed this week to their highest average in more than four years, ratcheting up affordability pressures at the start of the spring home-buying season.
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Steady hiring is supposed to fire up economic growth. Cheap gasoline is supposed to power consumer spending. Falling unemployment is supposed to boost wages. Low mortgage rates are supposed to spur home buying. America's economic might is supposed to benefit its workers. Yet all those common assumptions about how an economy thrives appear to have broken down during the first three months of 2015.Read More »
U.S. builders started work in August on the most single-family homes in six months and requested permits to build even more in future months. The figures suggest housing remains a driver of economic growth despite higher mortgage rates.Read More »