Higher Mortgage Rates Won’t Impact Recovery: Freddie Mac

Freddie Mac (OTCBB:FMCC) in its latest U.S. Economic and Housing Market Outlook report, doesn’t expect rising interest rates to stall the U.S. housing recovery. Freddie Mac in its Outlook for June feels at today’s house prices and income levels, mortgage rates would have to be nearly 7 percent before the U.S. median priced home would be unaffordable to a family making the median income in most parts of the country. 30-year Fixed Mortgage Rates Remained Low According to the report, interest rates have climbed about 0.5 percentage points since the beginning of May and are expected to hover around 4.0…