Welcome to Crazy Town. A year ago, if you had told me the current rate for a 30-year mortgage today would be 6.7%, I would have called, “Impossible!” But here we are folks. The Feds are apparently ready to throw the real estate market under the bus to curb inflation. Rates this high drastically reduce a buyer’s spending power which was already stretched, and sellers will just have to have a bit of a reality check as the ridiculously high prices from spring and early summer start...
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