Interest rate hike today to cool off the surging real estate market. Hmmm
One of the reasons the market is so active is that yes, there are Buyers but for very few listings. Why so few listings? One reason is homeowners sitting on mortgages with very low interest rates. Now they're even lower in comparison & even less likely to move.
Look for even more activity from Buyers as they strive to use up their rate holds before they expire. It could take a while to see the impact.
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