Mortgage rates hit 7 year high! The average rate for a 30-year fixed mortgage is the highest since May 2011! Homes sold last month went into contract at a record speed since 2010!
The interesting question is: are we in an “expectation mode” that this will continue which impacts increased interest rates or is it based on true real income growth? Probably both!
https://lat.ms/2kbcKEF
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