second-quarter housing trends22quarter housing trends
Rising mortgage rates extend affordability squeeze
The biggest trends to watch this quarter are around mortgage rates and home pricing. Both rates and prices are expected to rise, but quickly rapidly rising interest rates should put pressure on property price growth to slow somewhat.
Not only do buyers have to contend with higher mortgage rates that equate to larger monthly payments, but the sharp increase in property prices over the last year means those buyers will need to have more cash on hand to get to closing, too.
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