Wondering how the 🏡 market is?
It’s probably not going to come as a shock that the Real Estate market is softening. After a period of record low-interest rates, we’ve seen a significant increase in the average mortgage after multiple subsequent rate point hikes from the Fed as it tackles inflation. This has hampered both buyers and sellers.
This creates a lock-in effect. Homeowners like you probably hold a low-interest rate mortgage and are reluctant to sell in an environment with rising rates. Buyers also don’t want a high-interest rate, but there are still buyers in the market. Mortgage companies offer alternatives to a 30-year fixed loan along with many ways the buyer and seller can work to buy down the loan to make the payments more palatable.
