What do these decade-high rates mean for homebuyers and sellers?
As mortgage rates rise and housing prices increase, the real estate market is becoming increasingly difficult and costly for prospective homebuyers. Home prices are not rising nearly as quickly as they used to, but if they and interest rates keep rising, the demand for homes will weaken, since more buyers are priced out of the market. This is forcing many buyers to delay the homeownership dream because they cannot afford the punishing combination of higher rates and higher house prices. While there are expected more homes on the market this spring, higher mortgage rates could be keeping some sellers from... Read More