Richard Stein – Realtor®, Douglas Elliman, GREEN, SFR, CBR, eCertified®

Local Agent, Worldwide Marketing – Douglas Elliman Real Estate formerly Prudential Douglas Elliman Real Estate

Here’s how a 5% mortgage rate would roil the US housing market

  • Mortgage rates have not been at 5 percent since 2011.
  • A 5 percent rate would cause more than a quarter of today’s homebuyers to slow their plans, according to a Redfin survey.
  • Housing affordability is starting to hurt.
Diana Olick
 

Here’s how a 5% mortgage rate affect prospective homebuyers from CNBC.

 

Mortgage rates are now at their highest level in four years and poised to move even higher. The timing couldn’t be worse, as the usually busy spring housing market kicked into gear early this year amid higher home prices and strong competition for a record low supply of homes for sale. 

Add it all up, and ………………………….

Full story at CNBC

Comments are closed.

    Translate to:

  • Categories

    Promote blog