Mortgage Originations Drop as Rates Rise – What to Know

By Dave GrannisIn Dave, TeamPosted April 13, 2022

With interest rates rising, housing is becoming less affordable. Recent data has shown mortgage originations down 33% compared to last month. What does this all mean?

1st – Housing is becoming less affordable

2nd – We will start to see high listed properties sit on the market for longer. There could be a softening in the market.

3rd – The best time to sell is most likely NOW.

4th- Expect the trend to continue.

These are my take always. I do not predict a “crash”, but if you are looking to get the highest cash offer for your property. Now is the time, buyers will stop knocking at your door in the near future.

Credit: CNBC Real Estate News and Diana Olick

Take The Next Step

Get a free property analysis to find out what
your home is worth in the ever-changing real estate market.

Dave Grannis

Dave is rounding the corner on his first full year at Homeinc. Dave enjoys helping sellers accomplish their goals. He also takes pride in helping investors find profitable projects. His favorite part of working at Homeinc is the fact that there is something new everyday, and he is surrounded by great people. Dave currently holds the title of Homeinc Pop-A-Shot Champion. When not at the office, Dave enjoys playing golf and tennis.