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Mortgage bankers forecast rates to drop to 5.4% in 2023. Here's what that means for home prices.

Por: MarketWatch Business October 24, 2022

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Home prices have already begun moderating. According to Case-Shiller, month-over-month from June to July for the first time in 20 years. The latest numbers, which will be for August, will be reported on Tuesday morning. With a recession likely in the cards, on top of mortgage rates near or above 7%, “we’ve already seen a pretty dramatic pullback in housing demand,” Kan said. Also see: The 30-year fixed rate as compared to 3.85% a year ago.... + full article



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