Mortgage rates are climbing day by day in Usa after comment from Central bank Chairman Jerome Powell that the national bank is taking "powerful and quick" moves toward diminish expansion and slow the economy
The average Mortgage rate of 30 years has increased from 5.55% to 5.66% in ending of august reported by agencies
This whole year 2022 mortgage rates have increased rapidly as we have seen it rising from 3.22 to 5.82 highest in june. first half of the year has ssen rapid increase in mortgage
As mortgage rates rose so high in United states seller have decreased their prices and it has not became easy for buyer to buy houses
It is expected in the coming months that mortgage rates will fall in range of 5% to 6% this whole year and inflation will control these rates
If the mortgage remains same number of buyers in the market will decrease and demand will decrease so prices of houses will decrease
If you are planning to nuy a house it would be right time to convert your other assets into house for living