Mortgage interest rates have nearly tripled in the span of just a couple of years amid inflation fears and strong economic growth.

  • blarco@lemmy.world
    link
    fedilink
    arrow-up
    4
    ·
    1 year ago

    The opposite is happening. Everyone with a 2-4ish% mortgage is holding onto it for dear life so supply is super low which is causing housing prices to continue to climb. Can’t blame those homeowners. Even if you sell your house for some inflated amount, you need to buy too and then you’re stuck with a shifty mortgage rate.

    • agitatedpotato@lemmy.dbzer0.com
      link
      fedilink
      arrow-up
      1
      ·
      edit-2
      1 year ago

      Yeah there was an article that said national averages are down or slowing and maybe in the midwest but where I’m at a house purchased in early 2021 is evaluated at 30% more than purchase price. Copule that with interest rate rises and refi or buying that property doubles the monthly payment.