As Rates Go Up, Sales Go Down

Real estate sales have been increasing over the past 18 months as interest rates have stayed level. However, as can be seen on the graph to the right,  the interest rate hike over the past 2 months has caused sales to slow down.

Experts predict that this slowdown will be temporary while buyers readjust to the new reality of higher housing costs and re-set their expectations.

Rate vs applications

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