Mortgage Rates Fall

From an article in the Wall Street Journal this morning, the average home mortgage 30-yr fixed rate fell for the week ended yesterday (April 19th) from 6.22% to 6.17% according to Freddie Mac. The 15-yr loan also decreased to 5.89%. Hopefully all homebuilders will see this as positive news and we anticipate this will lead to a boost in the spring movement of homes.

We also hear from our contacts, that the lumber mills are starting to feel more demand and prices of lumber are slowly starting to rise. This falls in line with Barrier's forecast of a gradual and moderate return to sustainable building levels.