September 2023

Found 1 blog entry for September 2023.

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Rising Interest Rates has become a problem for those looking to get a mortgage when buying a home in today's real estate market.  These higher rates were intended to slow down pries and inflation but the actual opposite as happened.  Due to low inventory, we have what they call shelter inflation which is reaction to the Federal government raising interest rates.  It's basically explained as the higher the interest rates go, less and less people who currently have a 3 or 4 percent mortgages on their home would not want to put their home on the market and buy another property at interest rates in the 6 to 7 percent range due to the higher costs involved.  So the higher interest rates have created a very limited number of homes coming on the market which is