The talk of the real estate market these days is all about mortgage rates. Even though mortgage rates are still way lower than they were back in the 1980’s, they are higher than they have been in recent years. In fact, rates have more than doubled over the past year, and according to the Federal Home Loan Mortgage Corporation (“Freddie Mac”), that’s the first time in history that rates have more than doubled in just a year. Rising rates are intended to address inflation in the economy. Generally speaking, when it gets more expensive to borrow money due to higher ...
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