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Rising Mortgage Rates May Affect Asking Prices

Rising Mortgage Rates May Affect Asking Prices

If you've been paying any amount of attention to the real estate market, you may have noticed that mortgage rates have been steadily increasing throughout most of 2022. In fact, the average interest rate for a 30-year mortgage is over 5% as of early August. When the Federal Reserve first lowered national interest rates at the start of the COVID-19 pandemic, buyers essentially flooded the market. Now...

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