As mortgage rates rose to 7.63% – up from 7.57%, already a 23-year high – The question is, how will this affect already high home prices?
So far, the answer seems to be – not much.
Listings are still low as current homeowners are understandably reluctant to sell and take on a much higher mortgage rate.
Still, houses on the market are actually moving slightly faster than a year ago.
So all this means … ?