Mortgage rates are rising alongside home prices. The New York Times reports the average rate for a 30 year, fixed-rate mortgage is the highest it's been since May 2019.
This could be good news for sellers, but buyers are feeling the double squeeze of high prices and rising interest rates. According to industry economists, many would-be buyers
will likely jump into the market now before the rates rise even further. That's because higher rates make te overall cost of homeownership less affordable.
Potential buyers' fear of missing out (FOMO) on low interest rates is predicted to supercharge the already busy spring and summer selling season, says Inman.com.
Author:Karin Waterschoot-Perez Phone: 614-774-1741 Dated: September 6th 2022 Views: 143 About Karin: Executive Vice President of Sales
Experienced Realtor, Karin Waterschoot-Perez, currently serves ...
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