July 10 - The majority of consumers who plan to buy a home someday would be discouraged from buying if rates reach 6 percent, according to a new survey from Trulia. Bobbi Rebell reports.
The Daily Digit is 6 percent. That's the mortgage interest rate at which the majority of consumers would be discouraged from buying a new home according to a new survey from online real estate data website Trulia. Rates have been on the rise, and mortgage applications on the decline. Thirty year rates now are up to an average 4.68 percent, after rising again in the last week, according to the Mortgage Bankers Association. Refinancing activity is at its lowest since early July of 2011. The Trulia survey also found that if people were to buy this year, their top worry is rising rates followed by rising prices and finding a home that they like.