Low mortgage rates help home buyers as prices rise — if they can qualify
(WorldNews Business)

PHILADELPHIA — More space and nearness to family were the main motivations behind Jamie and Alan Rhode`s decision to move from their apartment in Philadelphia`s Fairmount neighborhood to the Plymouth Meeting area. The Rhodes, who both work in finance, planned to rent outside the city for a year or two before buying a house. Then mortgage rates continued to fall. “We definitely wanted to buy and take advantage of the opportunity with the low rates,” Jamie Rhode said. They are on a month-to-month lease while they look for the right house. “We thought it would be a great time — that we might not see in the next generation or so — to buy,” Alan said. The national average 30-year fixed mortgage...