Policymakers already lifted the benchmark federal funds rate nine consecutive times and have signaled that a 10th increase is on the table at their May meeting amid signs of underlying inflationary pressures within the economy.. As rates have slowly fallen from a peak of 7%, the housing market has shown early signs of stirring back to life.However, the return to lower mortgage rates has not been smooth.
A recent report from Realtor.com showed that the number of available homes on the market in March is down more than 50% from the typical amount before the pandemic began.
Wow, an inverse relationship!
BS. Hellholes like Rockford show high demand for homes. Prices haven’t really adjusted, either in spite of higher interest rates.
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Source: MarketWatch - 🏆 3. / 97 Read more »