Topic: Bob Walters
FHA shutdown would hit first-time home buyers the hardest. Even a short-term FHA shutdown could dent confidence in the real estate market.
Mortgage rates sank to the lowest level in decades this week, but the low rates have failed to spark home sales. Mortgage rates for 30-year fixed loans this week are 4.44 percent.
Higher mortgage rates since March are tied in part to investors' inflation worries.
Down 3.3 percent in the past year, median US home values are still 7.6 percent above 2004 levels.