How’s the Market?

How’s the Market? Let’s begin by looking at current mortgage rates. The mortgage data below is from Bankrate.com (click on the image for more information). Although interest rates have risen they are still historically low. It may be time to lock in your rate. We may be seeing signs of things changing. Some experts have suggested that the market is stabilizing as properties are sitting on the market longer, are having to reduce their asking price, and many properties are receiving fewer offers than during the pandemic panic. Will this slow the current acceleration of prices as more homes come on the market?