The housing market's rebound was hard to miss this year, but not everyone rode the wave to better days. Missing were first-time buyers -- many of whom were either jobless or couldn't get a home loan or both.
Those who tend to be first-time buyers, 25 to 34-year-olds, suffered far worse joblessness than most other adults in the years following the recession. A year ago, unemployment among young workers was 9.2% versus 8.7% for all adults. The gap has narrowed recently. In November, unemployment among young workers had fallen to 7.9% versus 7.7% for all adults.
If the trend continues, this might help bring first-time buyers back into the market.
Home prices might still be recovering, but the price of rentals has skyrocketed in these cities.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.45%||4.52%|
|15 yr fixed||3.47%||3.55%|
|30 yr refi||4.44%||4.51%|
|15 yr refi||3.46%||3.54%|
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