Spring is here and the real estate market is seeing an uptick in activity. However, interest rates are also UP-ticking. Today, interest rates are hovering around 7% and this takes a big chunk of someone's mortgage payment. So, it is keeping our normal spring boost in activity at a subdued level. All the stats are below. We definitely felt a boost in executed contracts towards the middle of February. But, I'm curious to see if we can sustain the increased activity if the government keeps hiking interest rates UP.
There are many ways to combat the high interest rates on your purchase. Respond here if you'd like to know more.
