Interest rates soar on jobs data, putting housing at risk | Money & Company | Los Angeles Times: "The Treasury bond market is in cardiac arrest today over the May employment report: Yields are soaring, dealing another blow to investors who’ve been hiding out in government bonds -- and threatening another big jump in mortgage rates.
If rising home loan rates price more buyers out of the market, sellers will have to respond by cutting asking prices. Anyone have a better idea?"
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Two weeks ago a house in my neighborhood finally sold after being on the market for months. It is on a lake that is full of fish, including muskies four feet long. The house has its own dock. There is another lake across the street. Selling price: $240,000. A year ago, you couldn't buy any house on that lake for less than $350,000.
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