US Home Prices, Mortgage Payments Notch Simultaneous Records

Mortgage rates in the US are a whisker away from a seven-handle, but home prices are rising again. And not just on a monthly basis either. On the heels of last week's bond selloff, the 30-year fixed rose 15bps, according to the latest update from Freddie Mac. At 6.96%, financing costs are within striking distance of the highs seen in late October and early November. It was the third straight weekly increase. All else equal, you'd be inclined to suggest this might translate to lower demand a