Pending Home Sales Fell in February. Are Buyers About to Regain Their Edge?
Last year, home values held steady at inflated levels as low mortgage rates drove buyers to continue purchasing properties. But this year, mortgage rates look very different.
As of this writing, the average 30-year loan interest rate is sitting at almost 4.8%. That means we're no longer in an age of affordable borrowing, and at this point, it would be a stretch to call today's rates competitive.
The hope among everyday buyers and real estate investors alike is that rising mortgage rates will at least cause a drop in buyer demand. If that happens, home prices could start to fall in the course of 2022, making houses more affordable.
Source Fool.com
