Not the best of news if you are in the market for a home. Rates are undeniably high right now. With talk of a possible Fed rate increase by the end of the year, I'm not sure if that will happen. The market seems to be digesting the uncertainties of the world and pricing accordingly. Until we can move past the uncertainty of inflation and the war in Iran, rates will be stubbornly high. This will have a cooling effect on the housing market - perhaps even depressing pricing.
If you are in the market to purchase a home and need some advice on affordability and mortgage options - call me today - 410-271-9499. From search, to negotiation, to contract, to financing, to closing - we do it all. We make it EZ!