Sale Prices Top List Prices – First Time in a Year
For the first time since last August, the average sale-to-list price ratio surpassed 100%, says Redfin, as low inventory and steady demand buoy home prices.
Mortgage Rate Hits 6.81%, Highest Since Nov. 2022
It’s a new high for 2023 and the second week of increases. It’s largely the result of higher 10-year Treasury Note yields as investors worry about inflation.
Accept It: Higher Mortgage Rates Here to Stay
Homebuyers shouldn’t view today’s rates as temporary and postpone ownership. The housing crisis pushed rates lower for 11 years, but that won’t recur anytime soon.
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