Market Update

Homebuyer competition is fiercer than ever, despite rising mortgage rates

     
Homebuyer competition is fiercer than ever, despite rising mortgage rates

With home prices skyrocketing, any rise in rates knocks even more potential buyers out of the running, and yet somehow the housing market is more competitive than ever, according to CNBC.

The rate is the same now as it was a year ago. The difference from a year ago, however, is that home prices are soaring. Prices are now up over 10% from this time in 2020, according to CoreLogic, and there appears to be no letup in the gains.

Continue reading Homebuyer competition is fiercer than ever, despite rising mortgage rates at Movement Mortgage Blog.

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