On December 21, the National Association of Realtors (NAR) announced that existing home sales had risen in November -- up 4 percent over October's figure, and up 12.2 percent year-over-year.
The next day, Freddie Mac announced a new record low for 30-year mortgage rates - 3.91 percent.
On paper, this could make it appear that the housing recovery is shaping up as planned: lower interest rates create new housing demand, which fuels a recovery in sales and housing prices. However, a closer look at the numbers doesn't support that optimistic view."
The Problem With Current Mortgage Rates: "
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