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Existing home sales jumped higher than expected in May at a rate of four point 2% from April the highest level since 2009.
But that wasn't the only new housing number.
The latest read -- Freddie -- thirty year fixed mortgage three point 93% compared to last week's three point 98.
Even though interest rates are going to go up -- mark -- routine investments says it doesn't really matter for the housing market.
The amount that you pay in -- home and what you can afford.
Doesn't really change that much until we get up into the sixes and sevens but don't expect interest rates to jump above 4% just yet.
I think we're gonna see fours through 2013.
And then organist in creep -- but they have to go at period end of subject.
And we -- back above an annualized rate of five million homes sold which shows the housing market is stabilizing.
We've really had -- gain this month.
In home sales and that's great news for housing it continues to mean that -- stabilizing -- Gil says the people looking to buy a home should lock your rates before they go up.
Because eventually they will.
They should lock right now because rates are going to go -- so you want to take advantage of these low rate.
Even though we're not gonna seek huge upswing and it's not gonna matter a lot you wanna -- in as low as you can get that money for as low as you possibly can't so go a lot -- and foxbusiness.com.
For more in New York I'm -- -- hands.
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