Morning Minute: Interest rates edge up but housing affordability still high

Mortgage interest rates have been moving up in recent weeks, but they are still historically low, making now a good time to buy, home builders say.

“You go back to the 70’s, you had 8 and a quarter money which was good money. In the 80’s it was 18% money. Here we are today with 4 1/2% money on a 30 year mortgage it’s unbelievably low,” Pekin-area builder David Whitehurst told WHOI-TV.

In other headlines:

Home price gains bring sellers off the sidelines – Pantagraph (via Associated Press)

First-time buyers losing out as home sales rise – USA Today

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