Date Posted: November 22, 2022
Housing inventory is showing a little lower than it typically would at this time of year, however, because of the high interest rates the inventory is sitting on the market longer than it has earlier this year. If you are looking to purchase a house, you do have time to shop around before you make your decision.
Rates have been moving down in the past week or two for 5-year fixed rate mortgages and we will know where the variable rate goes in the next week. We are forecasting rates to come down more significantly in the second quarter of 2023.
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