A Place for All
THE SUMMER SLOWDOWN
Following four years of a dramatic real estate market that saw rapid price appreciation, very limited inventory and multiple offers on many properties, the market has begun to stabilize. This year has seen the Federal Reserve raise rates in their effort to slow inflation. This has resulted in home mortgage rates rising from 3% in January for a 30-year fixed rate mortgage to 5.9% for the same mortgage today. This results in the monthly payment for a home purchase today to be nearly double what it was six months ago.
Rising rates have contributed to a cooling market, with slo...
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