Posts from December 15th, 2022

You may have noticed that mortgage rates are on the rise. We have seen rates increase from three percent to four percent, earlier this year, up to nearly eight percent now. Rising inflation is mostly responsible for this. The Federal Reserve, which is responsible for setting the interest rates that directly affect the mortgage rates, has been very clear on their stance with the housing market. Jerome Powell, who is The Federal Reserve Chair, has said the Federal Reserve is trying to "reset" the housing market after prices skyrocketed up to all-time highs in 2022. United States Home prices increased nearly 40 percent in only two years.

            We are now in a totally different housing market. The market has softened, and the market is more buyer friendly. The only problem is that mortgage rates are the highest they have been in nearly fifteen years. What can buyers do to combat this high cost of borrowing?

            You can "buy down" your...

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