If you are waiting for interest rates to go back into the 3.x% from 2 years ago, you may be waiting for a very long time.
Although some forecasters predict that rates will decline over the next 12 months, they do not see rates going below 5% any time soon. Even if the Fed gets inflation under control. This is our new reality, our new normal and something we will have to come to accept.
This will make it harder on first time home buyers and those buyers looking for affordable housing, so it is important to leverage every program available from the government to make the purchase of your new home affordable. I shared another article a few weeks back with information on those programs.
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