Housing seen shrugging off rate rise as banks loosen

THE FEDERAL RESERVE may scale back its stimulus program as the housing market continues to improve, something seen as the first real test for the year-old recovery.  / BLOOMBERG FILE PHOTO/JACOB KEPLER
THE FEDERAL RESERVE may scale back its stimulus program as the housing market continues to improve, something seen as the first real test for the year-old recovery. / BLOOMBERG FILE PHOTO/JACOB KEPLER
SAN FRANCISCO - Derrick Bulaich locked in a home- loan rate of 4.6 percent last week, prompted by a surge in borrowing costs as investors speculated the Federal Reserve would pull back from bond buying. Bulaich, who said he wishes he’d acted sooner, still plans to complete the purchase today of the four-bedroom Sacramento home…

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