Tanya Robotham Realtor

Home Prices Slowdown ‘Inevitable’.

NAR: Home Prices Slowdown ‘Inevitable’ Chief Economist Yun said in an interview that it’s “just inevitable that home price appreciation will slow down in the upcoming months.”

Sales could fall as much as 10% this year due to higher mortgage rates.

Higher Mortgage Rates Set Stage for Sales Slowdown This week’s 30-year mortgage rate averaged 5.11%. Owners with locked-in lower rates have less financial incentive to sell; would-be buyers face higher loan costs.

Mortgage rates rose this week and hit 3% due in part to concern over the spike in inflation.

Mortgage Rates Rise This Week and Hit 3% For the first time since April, average rates for a 30-year loan hit 3%, up from last week’s 2.94%, due in part to an increased concern over inflation.