Rates Flat Year-Over-Year, or How Did I Possibly Work A Tower of Power Lyric Into A Blog Post?

Today, in its Existing Home Sales report for June 2007, the National Association of REALTORS noted that mortgage rates are lower by 0.02% than in June 2006. I guess I knew that, but wasn't paying attention to it. I had wrongly assumed rates were higher because this recent run-up was so long and extreme. Then, I looked back... Last summer, mortgage rates rose steadily from mid-April until mid-July on (1) fears of inflation and, (2) a changing expectation of the...

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[Source: The Mortgage Reports Blog]