Rising mortgage interest rate = housing market decline
Wow, the last few interest rate raises by the Federal Reserve have all but killed the housing market and the slight resurgence of home building we were experiencing around here. How is it in your area?
Although for all intents and purposes I am retired I was hoping to be able to get the children started at building in my remaining years. This just may not happen now. It saddens me.
I remember when 8.5% interest seemed cheap. Now it seems 5% has put the brakes on the housing industry.