Axios: The housing market is about to get more dysfunctional By Neil Irwin
The average rate on a 30-year fixed-rate mortgage was 4.42% last week, Freddie Mac said, up from 3.76% three weeks earlier. That's the biggest three-week rise since 1987. The rate was 3.05% just three months ago.
2 comments:
Interest rates have to go up to try and slow the inflation beast. The party is over for real estate.
My tax guy was saying interest rates are nearing 5%. That's up 2.25% since November. There's still a demand for houses though and rents are through the roof. You can make a lot of dough selling your house but just make sure you're going somewhere that is well below average market rates or that extra dough will not last.
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