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Foreclosure activity fell to its lowest level in six years last month according to realty track.
That's down 32% compared to last year could this be the latest sign that the housing market is on the road to recovery -- not quite yet.
George Mason University professor of real estate and finance Anthony Sanders says that it all comes down to the Fed and its economic stimulus program.
The Fed has been pumping lots of -- of the market.
And the housing recovery is mostly an investor recovery not a traditional homeowner recovery so the second the punch -- all the way it goes.
Some investors say that the housing market has been hijacked by investors.
Who are buying up all the house is on Ben Stein sending home prices higher and bringing inventory down we should be saying.
-- inventory release from the market.
Basically from the shadow inventories the banks etc.
There's another problem is that it's not clear that -- -- forward demand.
From consumers there and it's not buying.
And so since then inventory few buyers these are all investors sorted through this would oversee pumped up -- fact clear it's a real recovery.
The news comes as mortgage rates edged higher the latest read on Freddie -- thirty year fixed mortgage.
3.4 2% that is up from last week but on the foxbusiness.com for more in new York and Tracy Byrnes.
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