Chasing The (American) Dream

Lost on Wednesday in a barrage of (for once favorable) inflation headlines and (for once auspicious) news out of the Mideast was another painful increase in average mortgage rates for untold millions of Americans still locked out of the "dream." The selloff at the long-end of the Treasury curve over the last several weeks drove a sharp increase in financing costs, leaving sidelined buyers once again in the lurch. On the MBA's gauge, the 30-year fixed rose to 7.09% over the week, the highest si