OK, deep breath. Let’s process this… It’s clear the market has slowed down significantly the past few months. The number of transactions occurring is down by almost 25% since last year. Why? Mortgage interest rates increased dramatically – we have been spoiled with ridiculously low rates from 2-4% over the past several years. Recently rates peaked in mid-October and we saw 7-8% for a 30 year fixed loan.
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