Mortgage interest rates are in the news a lot these days. Interest rates matter. Housing was already expensive before the rates went up. Mortgage interest rates have gone down a bit which is better than up but they are still high.
The rates are not slowing down home sales but they are causing homeowners who are paying less interest to stay put which means they are not putting their houses on the market.
Personally, I would hold off on buying a house until the rates go down but I am in the minority.
What was I thinking? The Federal Reserve raised rates and as of July 27, 2023, the 6.78 on the chart is 6.81 – that is high. Experts claim this is the last rate hike. We shall see . . .
