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by CareyBot

Have you been following the almost daily reports of continually rising home sales prices and near-record-high sales volume for both new and resale homes in the last few weeks? The 2004 spring and summer home sales season is proving to be stronger than most experts predicted. The recent comments of David Lereah, chief economist for the National Association of Realtors were especially fascinating. Although he predicts 6.9 percent, fixed-interest home loan rates by 2004 year-end, he doesn't expect new or resale home sales volume to be hurt unless mortgage interest rates get close to 8 percent (which he doesn't think will happen any time soon). Purchase Bob Bruss reports online. The recent small rise in mortgage interest rates seems to have motivated first-time and move-up buyers to purcha...