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Mortgage Rates Continue to Increase

May 12, 2022 by Al and Patti Iverson

May 12, 2022
Homebuyers continue to show resilience even though rising mortgage rates are causing monthly payments to increase by about one-third as compared to a year ago. Several factors are contributing to this dynamic, including the large wave of first-time homebuyers looking to realize the dream of homeownership. In the months ahead, we expect monetary policy and inflation to discourage many consumers, weakening purchase demand and decelerating home price growth.

Information provided by Freddie Mac.

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The Iverson Realty Group

Coldwell Banker Realty
17305 Cedar Ave S, Ste 100
Lakeville, MN 55044

Realtor & Housing

Licensed In Minnesota

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