Market Update: Inventory & Interest Rates Rising
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