Rising Mortgage Rates & Housing Market Impact
Mortgage rates hit a 3-month high (7.08%), impacting affordability. Existing-home sales decline amid economic uncertainty and potential changes to Fannie Mae/Freddie Mac. Housing flexibility is low.
Inflation is almost back to normal. Housing costs mean people aren’t feeling it
It’s not unusual for shelter costs to continue to barrel forward even as inflation in other sectors slow, according to Jason Pride, chief of investment strategy and research at private wealth management firm Glenmede.