CNBC’s Steve Liesman discusses the recent increase in interest rates and its impact on home sales. Federal officials say the administration’s plan to purchase mortgage-backed securities is intended to shore up the credit markets. Mark Zandi, chief economist of Moody’s Economy.com, said rising mortgage rates are hurting the refinancing market and home sales. But the federal measures may not be enough to impact the market, opponents say.
Federal moves may not help market
June 05, 2009 04:49PM