This real estate market is unlike anything we have ever seen before. With too few homes for too many buyers, bidding wars are common, driving up prices. Adding to the pressure, mortgage interest rates have shot up, and just crossed the 4% threshold for the first time since 2019.
Rates averaged 4.16% for 30-year, fixed-rate loans in the week ending March 17, according to Freddie Mac. That was a significant bump. Read more