Market Update: Inventory & Interest Rates Rising
Posted by Angela McKenzie on Friday, June 24, 2022 at 8:25 AM
By Angela McKenzie / June 24, 2022
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Wondering what the housing market is going to do this summer? Here's what experts are predicting:
→ All signs point to interest rates growing further in 2022, with the Fed planning hikes after each of its remaining 2022 meetings.
→ Inventory is likely to peak in late summer or early fall. About 64% of prospective home sellers plan to list their properties by the end of August.
If you’ve got your heart set on buying, our advice is this: Don’t give up now, get paperwork ready, and stay positive. Your home -- "The One" -- is out there, just waiting for you to discover it!
Sources: The Mortgage Reports
Freddie Mac, 30-Year Fixed Rate Mortgage Average in the United States
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