The Fed increased rates by 25 basis points. And this could be good news for the housing market. 👀
The 30 year fixed rate came down after the Fed increased the federal funds rate into the low 6% range, getting as low as 6.0 and jumping back up into the six and 3/8 range this week. 📊
Just a couple of weeks ago, we were north of seven on mortgage rates. So this is excellent news for buyers and for affordability and for sellers. 👏
We also saw the National Association of Realtors increase their predictions for the number of homes that will sell in 2023 by 14 and a half percent. 🏡
Tune into episode 316 of Tom's Take for even more details and data on how this impacts the housing market.
As always, reach out with any questions! We are here for you and ready to serve. 📲
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