Mortgage rates have been steadily increasing for the past six weeks, causing a slight dip in home purchases and an increase in the available inventory of homes for sale. The economy is strong and the Federal Reserve is expected to keep rates high for longer, further increasing monthly payments and making home buying less affordable. Inventory is expected to peak at the end of August, with 20% fewer homes on the market than in 2022.
Original post here: How inventory inches up with higher interest rates
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