𝙼𝚘𝚛𝚝𝚐𝚊𝚐𝚎 𝚁𝚊𝚝𝚎𝚜 𝙰𝚛𝚎 𝚁𝚒𝚜𝚒𝚗𝚐 𝙰𝚏𝚝𝚎𝚛 𝚈𝚎𝚊𝚛𝚜 𝙾𝚏 𝙳𝚘𝚠𝚗𝚠𝚊𝚛𝚍 𝙿𝚛𝚎𝚜𝚜𝚞𝚛𝚎
If you're a prospective first-time house buyer you've had to deal with the fact that your dream home is now likely to be 15-20% more expensive than it was last year. Now your mortgage rate is likely to be higher too as average 30-year fixed mortgage rates are getting close to touching 4% in the US, the highest reading for almost 3 years.
Higher mortgage rates might curb demand for houses which - in theory - might cool the red hot housing market a touch. But other data shows that there was a record low supply of houses for sale, with just 860,000 previously owned homes on the market last month. Demand might fall in the future, supply already has.
𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐
