My New Blog

Interest rate have increased to 5%+, in fact yesterday I heard in some lending circles, 6% for 30 year mortgages. The increase in rates nationwide has resulted in a weakening in demand for single family homes. However, locally and regionally I haven't noticed a significant shift yet to bring real estate prices down since inventory is still too low. The only single family homes staying "on the market" are considerably "Overpriced" homes. Inventory will increase as rates continue to climb. Then and only then will this unhealthy housing market change.