US mortgage rates jumped this week, climbing closer to 7%. The move follows last week’s rate hike from the Federal Reserve, and the downgrade this week by Fitch Ratings agency of US sovereign debt, and of Freddie Mac and Fannie Mae.
US mortgage rates jumped this week, climbing closer to 7%. The move follows last week’s rate hike from the Federal Reserve, and the downgrade this week by Fitch Ratings agency of US sovereign debt, and of Freddie Mac and Fannie Mae.
I can’t really respond with my thoughts here because I’m licensed in four states and all of them are experiencing different shifts in real estate, which I find odd.
California listings are selling quick while Utah is taking a long time to get sold. Just an example.
Around here I’d say the average price dropped about 10-15% and it’s pretty slow. My neighbor sold in a week for over asking a few months ago, now my other neighbor is only getting lowballs and it’s been on the market for 3 weeks.
I’m not a realtor but I’ve been in the market for the past few months so I’m on redfin daily