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There's a reason why everyone from first-time home buyers to bona fide investors hate the mortgage process -- the media tells them one thing about mortgage rates, and in-the-game loan officers tell them something else.
Taking a step back from the headlines, we clearly see the other side of the story, the one that shows that the number of buyers are increasing; that builders are cutting back; that banks are keeping homes off the market; that Fannie Mae is giving investors permission to bid at auction. The Supply and Demand curve is shifting. It's providing the framework for a national housing recovery.
It's too bad for Americans that the press over-simplifies the Freddie Mac survey. the survey gives two pieces of information -- (1) mortgage rates, and (2) mortgage fees -- but the press only reports on one of them -- rates.
