Feb 6, 2018

Buyers face rising rates heading into spring housing market

As per CNBC the 30 year fix rate is rising steadily since the beginning of this year especially this week .

Price is up to 6.8 % nationally and close to double digit in some local market. The supply  crisis is a big chunk of that biting words are actually the rule now, but a lot of the supporting those prices are also low mortgage rates, so any move higher will hit today's buyers especially first time buyers hard because affordability is more dependent than ever on cheap credit. Also want to remember as these home buyers looking for prices they can afford they going to be looking for lowest rate and as rate rise that means they not only be able to pay less but they will qualify less on mortgage.

Check out the video on  CNBC

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