Mortgage Rates DOUBLE in ONE Year Home Sales are FALLING

When you think about mortgage interest rates doubling in just 1 year, that doesn't sound like a "normal" housing market. Thats because it isn't. These higher rates would be no big deal except 1 problem, housing prices are sky high and now because of that home sales, demand to buy homes and mortgage applications are all falling because people cannot afford homes at these prices and rates. We know rates will continue to go up for the foreseeable future. So the only way homes gets sold, is if prices come down.

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Articles Mentioned in the Video

https://www.floridarealtors.org/news-media/news-articles/2022/07/s-fla-housing-sales-drop-inventory-grows?utm_campaign=7-22-22+Florida+Realtors+News&utm_source=iPost&utm_medium=email

https://www.floridarealtors.org/news-media/news-articles/2022/07/mortgage-rates-edge-554?utm_campaign=7-22-22+Florida+Realtors+News&utm_source=iPost&utm_medium=email

https://apple.news/A3y2GfGe4Q--zYdUrXfBCRw

https://apple.news/AtWc342tBQeqihy4d32aliw

https://apple.news/ASvnf4ODNT6i3LQq2GpZ7DA

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