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== Thinking of buying or selling- Here's how rising mortgag ==

<html>A recent, sharp rise in mortgage-interest rates has raised concerns about whether the housing recovery will soften as home loans become more expensive.
Last week, the average rate nationwide for a 30-year mortgage jumped to 4.46 percent from 3.93 percent ― the biggest one-week increase since 1987 and the highest rate since July 2011, according to the Federal Home Loan Mortgage Corp.
“We do think that, as rates go higher,[http://vibrationmeasurementresearch.com/plus/view.php?aid=92933 No one home when fire damages Henderson house], there will be additional affordability issues,” said Brad Hunter, a Florida-based economist for the real-estate research firm MetroStudy Inc.
“Everyone is getting nervous now as the Fed is taking away the Kool-Aid bowl soon,” he said. Rates started moving up after the Federal Reserve said on June 19 that it might end its economic-stimulation program by the end of this year or in 2014.
An increase in interest rates could temper the housing recovery in several ways.
For one thing, higher rates would mean prospective buyers could afford less house, possibly easing demand for new and existing homes. For another, the equity funds that have been buying up foreclosures would likely go looking elsewhere for better ways to invest their money, which would likely limit competition for new listings. Home builders may be pressured by higher carrying costs, even as fewer prospects show up to tour their model units. And homeowners not interested in selling would be less likely to refinance their existing loans.
Here’s a closer look at how rising rates could affect those four groups:
Buyers: For home buyers, many of whom have struggled since the Great Recession and global credit crisis to qualify for mortgages, an uptick in rates would also cut into their buying power once they are approved for a loan.
For example, buyers who obtained a $200,000 mortgage when interest rates were about 3.5 percent in April landed a monthly payment of about $900. But if rates head north to 5 percent, buyers hoping to get that same monthly payment would have to limit their mortgage to $170,000 ― or $30,000 less than they could have afforded with the lower loan rate.
In a talk to Congress last month, Fed Chairman Ben Bernanke noted that housing’s vital role in the nation’s economic recovery is due partly to the real estate-related jobs it creates “but also because higher house prices increase consumer wealth and promote consumer spending.”
Over the 30-year life of a $200,000 mortgage,[http://www.nikenfljerseyssupply.com/ cheap jerseys china], however, a home buyer would pay an additional $63,000 in interest with a 5 percent rate than with a 3.5 percent rate ― money not available for spending on consumer goods or services.
And even though mortgage lenders stand to earn more money with higher rates of return on their loans, borrowers would not find it easier to qualify for home loans should interest rates keep rising, said Rob Nunziata,[http://www.nikenfljerseyssupply.com/nfl-jerseys-c-598 Cheap NFL Jerseys for sale], president of Orlando, Fla.-based FBC Mortgage LLC.
“With some of the new regulations taking effect soon, such as QM ― qualified mortgage ― I think you will see lenders actually tighten guidelines as opposed to loosen them,” he said.
The qualified mortgage rule, issued by the federal government’s Consumer Financial Protection Bureau, aims to crack down on loose lending practices. Among other provisions, it does not allow mortgages that would bring a home buyer’s total monthly debt payments, including property taxes and insurance, to more than 43 percent of the person’s gross income.
Investors: Institutional buyers are likely to slow the pace of their distress-sale home purchases if interest rates rise and other investments become more attractive. Whether they also dump the properties they have already purchased or hang onto them would depend on the demand for single-family-home rental properties.
“I think the major equity players, like Blackstone (Group), that brought volume purchases to the real estate industry will retreat from the purchase of individual homes,” said Owen Beitsch, senior principal of Real Estate Research Consultants of Orlando. “This asset class is simply much too management-intensive, and the spread between cost and return is decreasing.”
John Tuccillo, chief economist for Florida Realtors, said he expects the pace of investor purchases to slow “during the next year or so.” He added that, while he doesn’t expect equity funds to sell off their newly acquired houses, he figures they will cut back on picking up new ones.
Diminished demand for investment houses would put pressure on prices to fall, though areas with low inventory would more easily handle an increase in available properties without prices tanking.
Builders: Homebuilders would also have to adjust as prospective buyers grapple with reduced spending power. A certain slice of that group would scale back their search to existing-home listings, said Hunter, the MetroStudy economist. Others would settle for smaller new homes or for developments in more-remote locations, he added. And builders would face costlier carrying costs for land and materials as they wait for enough buyers to close out a project.
In the short term, Hunter said, the jump in interest rates could give the market a boost, as prospective home buyers who have been hesitating to act decide to buy now, assuming rates will only continue to rise.
Homeowners: For those in a home and intent on staying there, refinancing their current mortgage would make less sense if rates continue to escalate, Nunziata said.
The number of refinanced mortgages grew significantly in 2011-12, with home-purchase loans becoming a smaller part of the overall mortgage mix, he said. The last time the refinance market experienced a big boost, he noted, was back in 2001-03, when rates dropped to 5.25 percent from 7.25 percent.
Mortgage lenders who have been specializing in refis are likely to go out of business “sooner than later” if interest rates keep rising, he added.
“The lenders that focus on purchase business will be in good shape, as long as the economy continues to improve,” Nunziata said.</html>

== Wimbledon title gives Bryans four straight grand slams ==

<html>Wimbledon title gives Bryans four straight grand slams{eot}The Canadian Press7/6/2013 2:17:00 PMText Size
LONDON -- The Bryan brothers got big air at Wimbledon on Saturday.
Yes, there was a little more room than usual between their feet and the ground for their latest version of the Bryan Bump -- the famed chest bump they use to celebrate their victories -- because of what that victory meant.
Their 3-6, 6-3, 6-4,[http://www.faq.cssleszno.eu/index.php?title=U%C5%BCytkownik:Rubyanne#Here.27s_why_hundreds_of_wannabe_murderers_are_roaming_our Here's why hundreds of wannabe murderers are roaming our], 6-4 win over Ivan Dodig and Marcelo Melo wrapped up the Bryan Slam, making the 35-year-old identical twins from California the first men's doubles team in the history of Open-era tennis to hold all four major titles at the same time.
 It just feels like we're adding nuts and whipped cream and cherries to our great career, Bob Bryan said. We said that a few years ago: If we retire today, we feel like we've done it all. Let's go have some fun and add to whatever this is. 
They now have 15 Grand Slam tournament victories, improving on the record they broke at the Australian Open when they surpassed John Newcombe and Tony Roche as the most successful men's pairing of all time. It's their third Wimbledon title and the victory made the Bryans the first team to hold all the slams along with an Olympic gold medal.
If they win the U.S. Open in September, they'll join Ken McGregor and Frank Sedgman as the second men's team to complete a calendar Grand Slam. The Aussie duo did it in 1951, 17 years before the Open era began,[http://www.nikenflonlinestore.com/ Nike NFL Jerseys Shop], and ended up winning seven titles in a row before the streak was snapped at the 1952 U.S. Open.
 I didn't think anything could feel as sweet as the gold medal, but this one just feels like there's a cap, a lid, or a ribbon around our career, Mike Bryan said. It's pretty cool. It's something we never dreamed of, to try to win four in a row. It's too hard to dominate in doubles. Maybe we had a little luck involved along the way. We just took them one at a time. It just added up. 
Taking Centre Court against a new doubles pairing of the Croatian Dodig and the Brazilian Melo,[http://www.fantomet.net/index.php?title=Bruker:Rubyanne#Jones_says_Silva_disrespected_his_gift_and_paid_the_price Jones says Silva disrespected his gift and paid the price], the top-seeded Bryan brothers came out shaky. Lowlighted by a whiff on a volley attempt by Mike, they fell behind 5-0 on their way to losing the first set.
But they got a pair of breaks in the second to even things up, then got a break apiece in the next two sets for the win. The final one came when Mike Bryan, the right-hander, hit a forehand down the middle for a clean winner, then high-stepped it off the court to the sideline for one,[http://www.nikenflonlinestore.com/nfl-jerseys-c-598 Cheap nfl jerseys USA], final change of ends.
His brother served out the match and after match point -- a 129-mph ace -- the brothers jumped as high as they can remember while performing their chest bump.
It's a move they borrowed from the Jensen brothers -- the popular 1993 French Open champions who, like the Bryans, had their own rock band and liked to play to the crowd. They Bryans started using it regularly when they played college tennis at Stanford.
 The fraternity guys were calling for it, Mike Bryan said. I think it was on the cover of the Stanford Daily. ... They called it the 'Bryan Bump.' We kept doing it. 
They plan to keep doing it through at least 2016 at the Rio Olympics.
They have 91 overall titles and would like to make it 100.
They've finished first in the rankings for eight years and would like to make that 10.
More urgently, there's that issue of wrapping up the calendar Grand Slam.
The quest starts less than eight weeks from now in Flushing Meadows but they hardly wanted to talk about that after their latest big win.
 This is going to be a great one to kind of just celebrate and enjoy and really let sink in what we've done, Bob Bryan said.</html>