Research Brief: Housing Market – 1Q 2022
Home prices climbing, despite a slowdown in buying. For the first time since 2019, the average rate for a 30-year mortgage breached 4 percent in March, then accelerated at an even faster pace, following the Fed’s first interest rate hike in over four years. Higher mortgage rates make houses less affordable, in an environment where elevated prices are already an inhibiting factor. In February, fewer existing homes sold than in any of the previous five… Read More