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4.5% Interest Rates Hurt Housing

Doubt - A Despair Demotivator

In the last two weeks we've seen interest rates on 30 year fixed mortgages move from 4.5% to 5.5% (or higher) that's a big OUCH.  This full interest rate point swing has meant that almost overnight, buyers lost well over 10% of their buying power.  Another way to look at it is housing just got 10% more expensive. While everyone was thrilled to see 4.5% interest rates, myself included, from the very outset I had concern about what this means for housing long term. The short term benefits are large and … [Read more...]


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This website is a service of Aaron Dickinson of Edina Realty, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc.