The real estate market has been hit by a lot of bad news in the first three months of this year, and it looks like it will only get worse in the coming months. Mortgage rates have remained elevated and are a pain for buyers. The Federal Reserve holding higher for longer with very slowly moderating inflation is not going to solve that problem anytime soon.
Lawrence Yun, chief economist at NAR, noted that consumers are gradually adapting to a new normal of mortgage rates between 6% and 7%.
There’s a lot of uncertainty about where this market could go. Prices are still high, and the Trump...
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